A leading player in consumer durables and electronics manufacturing services (EMS) space, Amber Enterprises India is looking to raise up to INR 3,000 crore through a combination of Qualified Institutional Placement (QIP) and its subsidiary ILJIN Electronics IPO, sources close to the matter said.
The company is targeting INR 1,500 crore from the QIP route for its listed parent, Amber Enterprises India, and INR 1,200-1,500 crore from the ILJIN Electronics IPO.
Fundraising Plan: ILJIN IPO & Amber Enterprises QIP
Amber Enterprises has already got board approval to raise up to INR 2,500 crore through eligible securities as per the resolution passed on 12 July 2025. While INR 2,500 crore is the ceiling, sources indicate that the final raise—especially through QIP—will be around INR 1,500 crore, depending on market conditions and investor sentiment at the time of launch.
ILJIN Electronics has appointed a consortium of investment bankers—Nuvama, DAM Capital, Motilal Oswal and Ambit Capital—to manage the IPO process. Bankers have already started working on valuations, DRHP and investor roadshows.
ILJIN Electronics IPO: Use of Funds
The fund raise is to fuel Amber’s expanding manufacturing capabilities and capture the growth in India’s electronics and HVAC manufacturing space. The company plans to use the funds for capex, technology upgradation and tapping opportunities in sectors like renewable energy, automotive electronics and defence manufacturing.
The timing of the fund raise is in sync with India’s shift towards domestic electronics production and government incentives like Production Linked Incentive (PLI) scheme.
ILJIN Electronics
ILJIN Electronics, a 100% subsidiary of Amber, is fast becoming a key player in high precision electronics manufacturing. It serves a wide range of industries including smart electronics, automotive, telecom, consumer durables, healthcare, renewable energy, aerospace and defence. It offers complete end-to-end solutions from product design and PCB manufacturing to embedded software and final assembly.
In June 2025, ILJIN added to its portfolio by acquiring a majority stake in Bengaluru-based PowerOne Micro Systems, a provider of Battery Energy Storage Systems (BESS), solar inverters, EV chargers and UPS solutions. This strategic acquisition positions ILJIN to tap into the rapidly growing clean energy and e-mobility hardware segment, a high-potential market with strong policy support.
Amber Enterprises IPO
Amber Enterprises launched its INR 600 crore IPO on 17 January 2018. The issue comprised a mix of fresh equity shares and an offer for sale (OFS). The IPO received an overwhelming response from investors, resulting in an oversubscription of 164.9 times. Upon listing, the stock delivered a strong return of 44.96% over its allotment price of INR 859 per share. Currently, it is trading around INR 7,593 per share, reflecting a ~9X return on investment.
Amber Enterprises: Financials and Performance
Amber Enterprises is delivering strong financials. For FY25:
- Revenue: INR 9,973 crore, up 48% YoY
- EBITDA: INR 796 crore, up 53%
- Net Profit: INR 251 crore, up 80%
Segment-wise, the consumer durables division saw revenue of INR 7,329 crore (up 46%) and the electronics division (mainly ILJIN) saw revenue of INR 2,194 crore, a massive 77% growth. Railway subsystems and defence vertical saw 6% decline in revenue to INR 450 crore.
Market Outlook and Implications
This dual-pronged fund raise through the parent company’s QIP and ILJIN IPO will help Amber to increase its capital without overleveraging its balance sheet. It will also help to unlock value from ILJIN, which has been unlisted so far despite its strong growth.
As Amber Enterprises expands into adjacencies like energy storage and EV infrastructure, the capital will be critical to maintain a competitive edge, improve vertical integration and scale up in high-demand sectors. Also, ILJIN IPO will bring more visibility to the EMS vertical, which is seeing increased investor interest with the government’s “Make in India” and electronics self-sufficiency push.
Conclusion
Amber’s INR 3,000 crore fundraising is a big bet on India’s electronics and consumer appliances story. With the ILJIN IPO around the corner and a strong pipeline of growth opportunities, the company is not just a manufacturer but a solutions powerhouse in the global supply chain.
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