08th September 2025: ILJIN Electronics India Pvt Ltd (“ILJIN”), a material subsidiary and Electronics division of Amber Group, announced that it has ₹1,200 Crore in strategic funding, through separate definitive agreements with prominent investors, ChrysCapital and InCred Growth Partners Fund I (InCred PE), along with their respective affiliates.

ChrysCapital, one of the leading private equity funds investing in India, is leading this investment round, whereby they will invest ₹1,100 crores and InCred PE will invest 100crs. in the form of equity shares and compulsory convertible preference shares. The transaction is subject to regulatory approval.

This fund raise in ILJIN is the first external institutional capital raise, which will enable ILJIN to increase scale of its operations and enhance manufacturing capabilities while exploring strategic and targeted acquisitions to strengthen its market position. This investment directly supports ILJIN’s strategic approach for deploying capital in advanced facilities, cutting-edge technology, and talent acquisition, aligning with India’s ‘Aatmanirbhar’ vision for self-reliance in electronics under initiatives like the Production Linked Incentive (PLI) scheme and Electronics Components Manufacturing Scheme (ECMS).

ILJIN Electronics, the Electronic Division of Amber Enterprise specializes in manufacturing bare printed circuit boards (PCB) and PCB assembly for industries such as consumer durables, automotive, telecom, healthcare, renewable energy, aerospace, defense among others. Further, 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 in FY25 reported revenues of ₹2,194 crores with ₹151 crores operating EBITDA, with revenues having grown at a CAGR of 52% from FY22-25.

Amber Group recently made applications under the Electronic Component Manufacturing Scheme (“ECMS’) of ₹990 crores for multilayer PCBs in Ascent Circuits & ₹3,200 crore for HDI/flex PCBs in Ascent-K Circuit (JV with Korea Circuits). Amber Group via its subsidiary ILJIN recently announced acquisition of controlling stakes in Power-One Micro Systems, to enter into the rapidly growing sector for Battery Energy Storage Systems (BESS), EV chargers, UPS and Solar inverter (on grid, off grid and hybrid) market. The Group has also signed definitive documents to acquire controlling stake in Unitronics plc, a prominent global player based out of Israel, offering comprehensive solutions in Industrial Automation and Control Systems such as PLCs, HMIs, PLCs with integrated HMIs, VFDs and others.

Commenting on the investment, Mr. Jasbir Singh, Executive Chairman and CEO and Whole Time Director of Amber Group, said, “The ₹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.”