New Delhi, Sept. 8 -- ILJIN Electronics India Pvt. Ltd, the electronics division of Amber Group, has raised Rs 1,200 crore (around $136.2 million) from private equity firm ChrysCapital and InCred PE in its maiden external institutional round.
ChrysCapital, one of the top homegrown private equity firms, is leading this investment round with a cheque of Rs 1,100 crores. InCred PE, via its InCred Growth Partners Fund I, will invest Rs 100 crore.
"The Rs 1,200 crore fund raise is further validation of ILJIN Electronics' strong EMS (electronics manufacturing services) play. This will empower us to pursue both organic expansion and strategic inorganic opportunities," said Jasbir Singh, executive chairman and chief executive officer and whole-time director of Amber Group.
The transaction is subject to regulatory approval.
This is the second big-ticket deal by ChrysCapital within a month. Last month, ChrysCapital acquired a majority stake in bakery and patisserie chain Theobroma Foods Pvt Ltd, marking its first buyout in the consumer sector.
ChrysCapital is currently on the road to raise what could be the largest-ever sector-agnostic PE fund to invest in India. InCred hit the final close on its maiden PE fund earlier this year after raising Rs 575 crore.
Meanwhile, ILJIN said it plans to use the funds to increase the scale of its operations and enhance manufacturing capabilities while exploring strategic and targeted acquisitions to strengthen its market position. It will also deploy capital for advanced facilities, cutting-edge technology, and talent acquisition.
ILJIN Electronics 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 smartwatches and routers, battery energy storage systems, solar inverters, EV charging solutions and UPS systems. In the financial year through March 2025, the company reported revenue of Rs 2,194 crore and operating EBITDA of Rs 151 crore. It claims that its revenue grew at a CAGR of 52% from FY22 through FY25.
Amber said it has recently applied under the government's Electronic Component Manufacturing Scheme of Rs 990 crore for multilayer PCBs in ascent circuits and Rs 3,200 crore for HDI/flex PCBs in Ascent-K Circuit (JV with Korea Circuits).
Amber, via ILJIN, recently acquired a controlling stake in Power-One Micro Systems, to enter into the rapidly growing sector for battery energy storage systems, EV chargers, UPS and solar inverters (on-grid, off-grid and hybrid) market. The group has also signed definitive documents to acquire a controlling stake in Israeli industrial automation firm Unitronics plc.
Published by HT Digital Content Services with permission from VC Circle.