ChrysCapital is set to lead the round with an investment of ₹1,100 crore, while InCred PE will participate with ₹100 crore.
Company: ILJIN Electronics India Pvt Ltd (ILJIN)
Parent company: Electronics arm of Amber Enterprises
Funding raised: ₹1,200 crore
Type: Maiden (first) round of external institutional funding
Funding Agreement and Utilization
The business stated in a statement on Sunday that the funds were obtained via final agreements with ChrysCapital and InCred Growth Partners Fund I (InCred PE), as well as their affiliates.
Subject to regulatory clearances, a combination of equity shares and mandatory convertible preference shares will be used to make the transaction.
The funds will be used to expand operations, bolster manufacturing capabilities, and investigate potential acquisitions in the electronics manufacturing services (EMS) industry, according to ILJIN.
Expanding EMS Capabilities Globally
The firm produces box-build solutions, PCB assemblies, and bare printed circuit boards (PCBs) for the consumer durables, automotive, communications, healthcare, renewable energy, aerospace, and defense sectors. Additionally, it supports UPS systems, EV charging options, solar inverters, and energy storage systems.
The ₹1,200 crore capital raising is another confirmation of ILJIN Electronics’ robust EMS play, according to Jasbir Singh, Executive Chairman, CEO, and Whole-Time Director of Amber Group. This would strengthen our position as leaders in PCB and EMS solutions and support Amber Enterprises’ overarching goal of innovation, market leadership, and independence by enabling us to pursue both organic growth and selective inorganic possibilities.
ChrysCapital, InCred Back ILJIN
The latest ECMS plan is one of many market tailwinds that will help the EMS sector develop robustly, according to Raghav Ramdev, Managing Director at ChrysCapital.
Working with Amber Group, which has shown exceptional execution and scale-up along with accretive acquisitions in areas with higher entry hurdles, excites ChrysCapital. We are eager to collaborate with the group and solidify ILJIN‘s standing as one of India’s top EMS providers.
InCred Growth Partners Fund Managing Partner and CIO Vivek Singla “We are thrilled to collaborate with ILJIN, a significant force transforming India’s EMS scene,” I said. This collaboration is in line with our mission to support market-leading, rapidly expanding companies that are fostering innovation and value generation.
ILJIN Expands Growth Horizons
For FY25, ILJIN posted revenues of ₹2,194 crore with an operating EBITDA of ₹151 crore, marking a strong performance.
Meanwhile, its parent company, Amber Group, has been actively pursuing capacity expansions and strategic acquisitions. Through its joint venture with Korea Circuits, the group has submitted bids under the government’s Electronic Component Manufacturing Scheme (ECMS) for contracts worth ₹3,200 crore in HDI/flex PCBs and ₹990 crore in multilayer PCBs.
With the recent acquisition of a majority share in Power-One Micro Systems, ILJIN entered the markets for solar inverters, UPSs, EV chargers, and battery energy storage systems. Additionally, the business has agreements in place to buy Unitronics plc, a company that specializes in industrial automation and control systems and is situated in Israel.