ILJIN Electronics, a subsidiary of Amber Group, raises Rs 1,200 crore led by ChrysCapital to expand manufacturing capacity, upgrade technology, and deepen market presence amid India’s burgeoning electronics sector.
ILJIN Electronics, a subsidiary of the Amber Group, a prominent player in electronics manufacturing services (EMS), has announced raising Rs 1,200 crore through its initial external institutional funding. The investment was led by ChrysCapital, which committed Rs 1,100 crore, with InCred Growth Partners Fund I contributing Rs 100 crore through a combination of equity and compulsory convertible preference shares. This transaction is currently subject to regulatory approvals before it can be finalized.
The freshly infused capital is intended to expand ILJIN’s manufacturing capacity, upgrade technological infrastructure, and facilitate strategic acquisitions to bolster its market presence within India’s burgeoning electronics supply chain. ILJIN specializes in manufacturing bare printed circuit boards (PCBs), PCB assemblies, and complete box-build solutions catering to various sectors including consumer durables, automotive, telecom, renewable energy, healthcare, aerospace, and defense. Additionally, the company produces products such as battery energy storage systems (BESS), electric vehicle (EV) chargers, solar inverters, and uninterruptible power supply (UPS) systems.
In the fiscal year 2025, ILJIN reported revenues of Rs 2,194 crore, accompanied by an operating EBITDA of Rs 151 crore. The company has experienced a compound annual growth rate (CAGR) of 52% between FY22 and FY25, indicating rapid expansion aligned with government initiatives promoting self-reliance in electronics manufacturing, like the Production Linked Incentive (PLI) scheme and the Electronics Components Manufacturing Scheme (ECMS).
Amber Group, ILJIN's parent company, is actively expanding its footprint, notably through a recent acquisition of a majority stake in Power-One Micro Systems, based in Bengaluru, which specializes in manufacturing solar inverters, UPS, BESS, and EV chargers. This strategic move aims to strengthen Amber Group’s position in the growing energy solutions segment, complementing ILJIN’s existing capabilities. Furthermore, Amber Group has entered into an agreement to acquire Israel-based Unitronics plc, a leader in industrial automation solutions, demonstrating their commitment to diversifying and strengthening their presence across various advanced electronics sectors.
Industry experts note increasing investor interest in India’s EMS sector, driven by a shift toward localized supply chains and the demand for higher-value manufacturing. The recent funding round and ILJIN's growth initiatives position it well to capitalize on these emerging trends, contributing to the development of a more integrated and technologically advanced domestic electronics ecosystem.
The funding also aligns with strategic efforts by the Amber Group to enhance growth organically and through acquisitions, fostering competitive advantages in the rapidly evolving EMS landscape. Overall, this milestone signifies a significant step forward for ILJIN Electronics and underscores the increasing confidence of private equity investors in India’s electronics manufacturing future. The company's expansion and technological upgrading are expected to play a vital role in supporting India’s goal of becoming a global hub for high-tech electronics production amid a dynamic policy environment.
Source: Noah Wire Services