IL JIN Electronics eyes Rs 2,500-cr via IPO

Hyderabad: IL JIN Electronics (India) Ltd., an electronics design and manufacturing company has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise up to Rs2,500 crore through a fresh issue of equity shares.

The company plans to utilise Rs1,636 crore of the net proceeds to repay or prepay, fully or partially, outstanding borrowings and accrued interest availed by the company and its subsidiaries, Ascent Circuits Pvt Ltd and ShoginiTechnoarts Pvt Ltd. Another `1,953.41 crore is earmarked for purchasing plant, machinery and equipment for its manufacturing units, while the remaining proceeds will be used for general corporate purposes.

The technology-driven electronics design and manufacturing company operates across four business verticals: electronics manufacturing services (EMS), including printed circuit board assembly (PCBA) and box-build solutions; bare printed circuit board (PCB) manufacturing; power electronics; and industrial automation.

IL JIN Electronics operates 11 manufacturing facilities, including 10 in India and one in Israel. Its Indian facilities are located in Noida and Greater Noida in Uttar Pradesh, Pune in Maharashtra, Chennai and Hosur in Tamil Nadu, and Bengaluru in Karnataka. Six manufacturing facilities are under construction as of the DRHP filing date and are expected to support the company's future capacity expansion.

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