Noida-based ILJIN Electronics India, the arm of Amber Enterprises, has secured its first institutional funding round worth Rs 1,200 crore, a deal that signals its aggressive expansion plans in India’s booming electronics manufacturing sector. The round was led by ChrysCapital, one of India’s most established private equity firms, with InCred Growth Partners Fund I (InCred PE) also participating.
Of the total capital raised, ChrysCapital is investing Rs 1,100 crore, while InCred PE is contributing Rs 100 crore. The funding is structured through a mix of equity shares and compulsory convertible preference shares, ensuring a balance between immediate growth capital and long-term equity value.
ILJIN Electronics India
Headquartered in Greater Noida, ILJIN Electronics manufactures bare printed circuit boards (PCBs) and PCB assemblies, catering to diverse sectors including consumer durables, automotive, telecom, healthcare, renewable energy, aerospace, and defense. The company also provides integrated box-build solutions, producing items such as smartwatches, routers, solar inverters, EV charging systems, battery energy storage systems, and UPS systems.
The fresh infusion of funds will be used to scale up manufacturing capacity, expand operations, and pursue selective acquisitions in high-growth industries. With India positioning itself as a global hub for electronics manufacturing, ILJIN is now gearing up to capitalize on both domestic and export opportunities.
Acquisitions Drive Expansion
Amber Enterprises, through ILJIN, has already demonstrated its appetite for strategic acquisitions. Recently, it acquired a controlling stake in Bengaluru-based Power-One Micro Systems, marking its entry into the energy storage, EV chargers, and solar inverter markets. The group has also signed agreements to acquire Unitronics, an Israel-based company specializing in industrial automation solutions.
These acquisitions are expected to significantly expand ILJIN’s technological expertise and product portfolio, helping the company deliver end-to-end electronic manufacturing solutions in line with global standards.
Strong Financial Growth
ILJIN has delivered robust growth in recent years. For FY25, the company reported revenues of Rs 2,194 crore with an operating EBITDA of Rs 151 crore, reflecting an impressive 52% CAGR between FY22 and FY25. This performance highlights its ability to scale rapidly while maintaining profitability in a competitive industry.
Speaking about the funding, Jasbir Singh, Executive Chairman and CEO of Amber Enterprises, said the investment “will empower us to pursue both organic expansion and strategic inorganic opportunities, reinforcing our leadership in PCB and EMS solutions.”
Electronics Market in India
The timing of this funding round coincides with the rapid expansion of the electronics market in India, which is being fueled by government initiatives such as ‘Make in India’ and the Production-Linked Incentive (PLI) scheme. India’s electronic system design and manufacturing (ESDM) market is projected to cross USD 300 billion by 2026, creating enormous opportunities for players like ILJIN.
The demand for electronics is being driven by consumer durables, smartphones, electric mobility, renewable energy, and defense applications. With India currently importing a large share of its electronic components, domestic manufacturers such as ILJIN are well positioned to reduce reliance on imports and become global suppliers.
