Semiconductor co ILJIN Electronics secures Rs 1,200 Cr for expansion and acquisitions

Electronics manufacturing services (EMS) company ILJIN Electronics, a subsidiary of Amber Group, has raised Rs 1,200 crore in its first external institutional round from ChrysCapital and InCred Growth Partners Fund I.

According to the company, ChrysCapital will invest Rs 1,100 crore, while InCred PE will contribute Rs 100 crore, through a mix of equity and compulsory convertible preference shares. The transaction is subject to regulatory approvals.

The funds will be used to expand ILJIN’s manufacturing capacity, upgrade technology, and pursue strategic acquisitions, as the company looks to strengthen its position in India’s growing electronics supply chain.

ILJIN manufactures bare printed circuit boards (PCBs), PCB assemblies, and box-build solutions for sectors including consumer durables, automotive, telecom, renewable energy, healthcare, aerospace, and defence. It also builds products such as battery energy storage systems, EV chargers, solar inverters, and UPS systems. In FY25, ILJIN reported revenues of Rs 2,194 crore with an operating EBITDA of Rs 151 crore, growing at a 52% CAGR between FY22–FY25.

This funding comes as the government pushes for self-reliance in electronics manufacturing through schemes such as the Production Linked Incentive (PLI) and Electronics Components Manufacturing Scheme (ECMS). Amber Group, ILJIN’s parent, has also been expanding aggressively, recently acquiring Power-One Micro Systems to strengthen its presence in energy storage, EV, and solar solutions, and signing a deal to acquire Israel-based Unitronics plc in the industrial automation space.

Industry watchers note that the EMS sector in India is seeing increased investor interest, driven by demand for localised supply chains and higher-value electronics manufacturing.