Amber Enterprises arm IL JIN Electronics files DRHP for ₹2,500 crore IPO
IL JIN Electronics (India) Ltd, an arm of Amber Enterprises India Ltd, has filed preliminary papers with the market regulator Sebi to raise Rs 2,500 crore through an initial public offering (IPO). The proposed IPO is entirely a fresh issue of equity shares, with no offer for sale (OFS) component, according to the draft red herring prospectus (DRHP) dated November 6. The company plans to use the proceeds to repay or prepay certain outstanding borrowings, including accrued interest, availed by the company and its subsidiaries, Ascent Circuits and Shogini Technoarts. The funds will also be used to purchase plant, machinery, and equipment for its manufacturing units, as well as for general corporate purposes. IL JIN Electronics is a vertically integrated, technology-driven electronics design and manufacturing company operating across four business verticals -- electronics manufacturing services (EMS), bare printed circuit board (PCB) manufacturing, power electronics and industrial ...
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