Amber Enterprises' subsidiary ILJIN Electronics to launch ₹2,500 crore IPO

According to a Business Standard report, ILJIN Electronics (India) Limited, a subsidiary of Amber Enterprises India Limited, has filed preliminary papers with market regulator SEBI to raise ₹2,500 crore through an initial public offering (IPO).

According to the draft red herring prospectus dated November 6, the proposed IPO is a fresh issue of equity shares entirely with no offer-for-sale component. The company will use these funds to repay or prepay, in full or in part, certain outstanding borrowings availed by it and its subsidiaries Ascent Circuits and Shagini Technoarts, along with interest.

This money will also be used to purchase plant, machinery, and equipment for its manufacturing units as well as for general corporate purposes. ILJIN Electronics is a vertically integrated, technology-driven electronics design and manufacturing company that operates across four business verticals.

This company is a subsidiary of Amber Enterprises India Limited, a key player in India's room air conditioner original equipment manufacturer and original design manufacturer industry. ILJIN Electronics operates a total of 11 manufacturing facilities, with 10 in India and 1 in Israel.

Its Indian facilities are located at Noida and Greater Noida in Uttar Pradesh, Pune in Maharashtra, Chennai and Hosur in Tamil Nadu, and Bengaluru in Karnataka. Construction of six additional manufacturing facilities is currently underway, which are expected to support its capacity expansion in the future.

On the financial front, ILJIN Electronics' revenue from operations grew from ₹1,240.41 crore in FY24 to ₹3,268.47 crore in FY26. Its EBITDA grew from ₹71.42 crore in FY24 to ₹321.07 crore in FY26.

Motilal Oswal Investment Advisors, Axis Capital, and Jefferies India have been appointed as book-running lead managers for the issue, while KFin Technologies will act as the registrar for this IPO.