Amber Group, a homegrown contract manufacturer for consumer durables and electronics, said its subsidiary ILJIN Electronics India will raise Rs 1,200 crore from private equity investors.
It has entered into separate definitive agreements with prominent investors, ChrysCapital and InCred Growth Partners Fund I (InCred PE), along with their respective affiliates.
ChrysCapital will lead the round with an investment of Rs 1,100 crore, while InCred PE will contribute Rs 100 crore. The investment will be made through a mix of equity shares and compulsory convertible preference shares, subject to regulatory approvals.
ILJIN Electronics, the Electronic Division of Amber Enterprise, specialises in manufacturing bare printed circuit boards (PCB) and PCB assembly for industries such as consumer durables, automotive, telecom, healthcare, renewable energy, aerospace, and defence, among others. It also provides box-build solutions for smart watches, router etc, including battery energy storage systems, solar inverters, EV charging solutions and UPS systems.
ILJIN said the capital will be used to scale up operations, strengthen manufacturing capacity, and explore strategic acquisitions in the electronics manufacturing services (EMS) sector. The company manufactures bare printed circuit boards (PCBs), PCB assemblies, and box-build solutions for industries including consumer durables, automotive, telecom, healthcare, renewable energy, aerospace, and defence. It also caters to energy storage systems, solar inverters, EV charging solutions, and UPS systems.
Jasbir Singh, Executive Chairman and CEO and Whole Time Director of Amber Group, said, “The Rs 1,200 crore fund raise is further validation of ILJIN Electronics’ strong EMS play. This will empower us to pursue both organic expansion and strategic inorganic opportunities, reinforcing our leadership in PCB and EMS solutions while contributing to Amber Enterprises’ broader vision of innovation, market leadership and self-reliance”.
Raghav Ramdev, Managing Director, ChrysCapital said, “The EMS sector is poised for robust growth given multiple industry tailwinds including the recent ECMS scheme. ChrysCapital is very excited to partner with Amber Group, which has exhibited strong scale-up & execution complimented by accretive acquisitions in higher entry barrier segments. We look forward to working with the team and strengthen ILJIN’s position as one of the leading EMS players in India.”
Vivek Singla, Managing Partner and CIO, InCred Growth Partners Fund I said, “We are delighted to partner with ILJIN, a major player driving transformation in India’s EMS landscape. This partnership aligns with our commitment to backing market leading, high-growth businesses driving innovation and value creation.”
In FY25, ILJIN reported revenues of Rs 2,194 crore with an operating EBITDA of Rs 151 crore. Its revenues have grown at a CAGR of 52% between FY22 and FY25.
Amber Group, ILJIN’s parent company, has also been active in capacity expansion and acquisitions. It has applied under the government’s Electronic Component Manufacturing Scheme (ECMS) with projects worth Rs 990 crore for multilayer PCBs and Rs 3,200 crore for HDI/flex PCBs through its joint venture with Korea Circuits.
Recently, ILJIN acquired a controlling stake in Power-One Micro Systems, marking its entry into the battery energy storage systems, EV chargers, UPS, and solar inverter markets. The group has also signed agreements to acquire Unitronics plc, an Israel-based player in industrial automation and control systems.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
