ILJIN Electronics raises Rs 1,200 crore in first institutional funding led by ChrysCapital

ILJIN Electronics India, the electronics division of Amber Enterprises, has raised Rs 1,200 crore in its first institutional funding round from ChrysCapital and InCred Growth Partners Fund I (InCred PE).

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The company said that the deal marks a milestone in its expansion strategy as India’s electronics manufacturing sector gathers momentum.

Homegrown private equity firm ChrysCapital is leading the round with an infusion of Rs 1,100 crore, while InCred PE will contribute Rs 100 crore. The investment is structured through a mix of equity shares and compulsory convertible preference shares.

Greater Noida-based ILJIN Electronics manufactures bare printed circuit boards (PCBs) and PCB assemblies for sectors including consumer durables, automotive, telecom, healthcare, renewable energy, aerospace and defense. The company also provides integrated box-build solutions such as smartwatches, routers, solar inverters, EV charging systems, battery energy storage systems, and UPS systems.

The capital infusion will be used to scale up operations, strengthen manufacturing capacity, and pursue selective acquisitions in high-growth segments. Amber Enterprises, through ILJIN, has already acquired a controlling stake in Bengaluru-based Power-One Micro Systems, entering the market for energy storage, EV chargers and solar inverters. The group has also signed agreements to acquire Unitronics, an Israel-based industrial automation firm.

ILJIN reported revenues of Rs 2,194 crore in FY25, with an operating EBITDA of Rs 151 crore, reflecting a compound annual growth rate of 52% between FY22 and FY25.

Jasbir Singh, executive chairman and CEO of Amber Enterprises, said the funding “will empower us to pursue both organic expansion and strategic inorganic opportunities, reinforcing our leadership in PCB and EMS solutions.”