InCred Capital Gains CCI Clearance for Strategic Stake in ILJIN Electronics

Regulatory clearance: The Competition Commission of India (CCI) has granted approval for private equity investors, including InCred Capital and ChrysCapital, to acquire a stake in ILJIN Electronics (India) Pvt Ltd.

Investment background: ILJIN secured a ₹1,200 crore funding round, with ChrysCapital investing ~₹1,100 crore and InCred Growth Partners Fund I contributing ~₹100 crore through equity and convertible instruments.

Business overview of ILJIN: ILJIN Electronics is a subsidiary of Amber Group specialising in electronics manufacturing services (EMS), including printed circuit boards (PCBs), PCB assemblies, and box‑build products for sectors such as consumer durables, automotive, telecom, healthcare, aerospace and defence.

Growth performance: In FY25, ILJIN posted ₹2,194 crore in revenue and ₹151 crore in operating EBITDA, with a 52% CAGR from FY22 to FY25, demonstrating strong growth prior to institutional investment.

Strategic use of funds: The investment is intended to help ILJIN expand manufacturing capacity, enhance production capabilities, and pursue organic growth and targeted acquisitions to strengthen its competitive position.

InCred’s role: For InCred Capital, the CCI clearance clears the path for deploying strategic capital into a high‑growth, manufacturing‑led business, positioning it to benefit from India’s push towards import substitution and self‑reliance in electronics production.

Market context: The broader electronics manufacturing ecosystem in India is expanding, supported by government incentives and rising domestic demand for advanced EMS capabilities.

Source: https://www.msn.com/en-in/money/markets/cci-clears-mumbai-based-private-equity-investor-chryscapital-incred-capitals-proposals-to-purchase-stakes-in-iljin-electronics/ar-AA1Q27sY?apiversion=v2&domshim=1&noservercache=1&noservertelemetry=1&batchservertelemetry=1&renderwebcomponents=1&wcseo=1

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