AZB & Partners acted as legal counsel to InCred Capital Financial Services Limited (“InCred Capital”) in its investment in ILJIN Electronics (India) Private Limited (“ILJIN Electronics”), a subsidiary of Amber Enterprises India Limited. The transaction involves a strategic equity investment valued at approximately USD 135 million (INR 12 billion) by InCred Capital, alongside ChrysCapital.
ILJIN Electronics is a leading manufacturer of electronic components and assemblies for the consumer durables and electronics sector. The investment aims to strengthen ILJIN’s manufacturing capabilities, support its expansion into new product segments, and drive growth in India’s fast-evolving electronics ecosystem.
The AZB & Partners team advising InCred Capital comprised Partners Anand Shah and Harshil Dalal, and Senior Associate Anmol Jain.
The transaction was signed on September 30, 2025, and completion is currently pending customary closing conditions.
This investment underscores the growing interest of private equity and financial institutions in India’s electronics manufacturing sector, aligning with the Government’s “Make in India” initiative and the rising demand for domestic component production.