Amber Enterprises shares in focus as arm files DRHP for Rs 2,500-crore IPO

Amber Enterprises India Ltd shares will be in focus on Monday after its material subsidiary, IL JIN Electronics (India) Ltd, filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for a proposed Rs 2,500 crore initial public offering (IPO). The filing was made on November 6, according to an exchange disclosure by Amber Enterprises.

The proposed IPO will comprise entirely a fresh issue of equity shares, with no offer-for-sale (OFS) component. This means the proceeds from the issue will go to IL JIN Electronics.

Amber Enterprises shares ended 0.9% lower at Rs 6,350 on Sunday, compared with their previous close of Rs 6,408.

The company plans to use the IPO proceeds to repay or prepay certain outstanding borrowings, including accrued interest, taken by IL JIN Electronics and its subsidiaries, Ascent Circuits and Shogini Technoarts. The funds will also be used to purchase plant, machinery and equipment for its manufacturing units, along with meeting general corporate requirements.

IL JIN Electronics operates as a vertically integrated electronics design and manufacturing services provider across four business segments: electronics manufacturing services (EMS), bare printed circuit board (PCB) manufacturing, power electronics and industrial automation.

The company currently operates 11 manufacturing facilities, including 10 in India and one in Israel. Its domestic manufacturing facilities are located in Noida and Greater Noida in Uttar Pradesh, Pune in Maharashtra, Chennai and Hosur in Tamil Nadu, and Bengaluru in Karnataka. It also has six manufacturing facilities under construction.

IL JIN Electronics financial performance

IL JIN Electronics reported revenue from operations of Rs 3,268.47 crore in FY26, compared with Rs 1,240.41 crore in FY24. Its Ebitda increased to Rs 321.07 crore in FY26 from Rs 71.42 crore in FY24, indicating an expansion in its business scale and operating earnings over the two-year period.

Amber Enterprises has built its presence in India's air-conditioning manufacturing ecosystem, while IL JIN Electronics focuses on electronics manufacturing and related technology businesses. A separate stock market listing could allow IL JIN to pursue its growth plans independently and give investors a direct opportunity to participate in its electronics manufacturing business.

For the proposed public issue, IL JIN Electronics has selected Motilal Oswal Investment Advisors, Axis Capital and Jefferies India to oversee the IPO process. KFin Technologies has been chosen to manage the issue's registrar-related responsibilities.