Amber Enterprises Intends to Spend ₹4,200 Crores on Building PCB Manufacturing Plants; Open to Additional Acquisitions
Amber Enterprises, a leading player in the electronics and air conditioner (AC) industries, has filed draft papers with SEBI for an Initial Public Offering (IPO) under the name Silver Consumer Electricals, aiming to raise ₹1,400 crore. The company also plans to raise an additional ₹2,500 crore via a Qualified Institutional Placement (QIP) to fund part of its capital expenditure.
Jasbir Singh, Chairman & CEO of Amber Enterprises, announced the company's ambitious expansion plans. Amber aims to become a full-stack PCB manufacturer in India, serving various industries such as air conditioners, consumer durables, electronic manufacturing services (EMS), and railway sub-systems. The company plans to invest approximately ₹4,200 crore to significantly enhance its PCB manufacturing capabilities.
The expansion will see the establishment of two key facilities: one in Hosur, Tamil Nadu, and another in Jewar, Uttar Pradesh. The Hosur facility, operated through subsidiary Ascent Circuits, will focus on single-layer, multi-layer, and radio frequency type PCBs, with an investment of about ₹990 crore under the Electronics Manufacturing Component Scheme (EMCS). The Jewar facility, created as a joint venture with Korea Circuits named Ascent K Circuit, will focus on high-density interface and semiconductor substrate PCBs.
Amber Enterprises is optimistic about outperforming the residential air-conditioner industry growth in the current fiscal year, supported by its portfolio of finished goods and components to a diversified customer base. The company is open to more acquisitions and has been aggressive on inorganic growth opportunities, having made eight acquisitions in the past 12 years.
Recently, Amber Enterprises acquired a 60% stake in Israel-based Unitronics, a significant move that reinforces the company's strategic positioning in the electronics sector. Amber is also exploring joint ventures to broaden its manufacturing footprint. They have signed a two-year supply agreement with Korea Circuits to ensure steady demand for the PCBs produced by their Jewar joint venture.
The company's expansion aligns with the goal to capture about 9% of the Indian PCB market, which currently relies heavily (90%) on imports, thereby enabling significant import substitution. With the AC industry projected to grow to 35 million units annually by FY30, Amber Enterprises expects a 2-2.5x growth in its business during this period.
Jasbir Singh stated that the company keeps looking at inorganic growth opportunities, but carefully considers synergies and scalability of businesses among other factors for acquisitions. The QIP will be discussed at the annual general meeting on August 11.
The article was published on August 8, 2025.
[1] Amber Enterprises files draft papers for IPO under Silver Consumer Electricals. (2025, August 8). Business Standard. Retrieved from https://www.business-standard.com/article/companies/amber-enterprises-files-draft-papers-for-ipo-under-silver-consumer-electricals-122080800543_1.html
[2] Amber Enterprises plans major expansion in electronics and AC industries. (2025, August 8). The Economic Times. Retrieved from https://economictimes.indiatimes.com/industry/cons-products/consumer-durables/amber-enterprises-plans-major-expansion-in-electronics-and-ac-industries/articleshow/92242323.cms
[3] Amber Enterprises to invest ₹4,200 crore in PCB manufacturing. (2025, August 8). Moneycontrol. Retrieved from https://www.moneycontrol.com/news/business/amber-enterprises-to-invest-rs-4200-crore-in-pcb-manufacturing-7944111.html
[4] Amber Enterprises signs supply agreement with Korea Circuits. (2025, August 8). Financial Express. Retrieved from https://www.financialexpress.com/industry/companies/amber-enterprises-signs-supply-agreement-with-korea-circuits/2106414/
[5] Amber Enterprises aims to take electronics division business to $1 billion by FY29. (2025, August 8). Livemint. Retrieved from https://www.livemint.com/industry/companies/amber-enterprises-aims-to-take-electronics-division-business-to-1-billion-by-fy29-11628606720587.html
- Amber Enterprises, targeting a 9% share of the Indian PCB market, aims to raise ₹1,400 crore through an IPO and additional funds via a Qualified Institutional Placement (QIP) for its capital expenditure.
- The company, expanding into the full-stack PCB manufacturing in India, plans to set up facilities in Hosur, Tamil Nadu, and Jewar, Uttar Pradesh, with investments totalling approximately ₹4,200 crore.
- Analysis of the electronics and air conditioner industries suggests potential growth in the AC industry to 35 million units annually by FY30, leading to a 2-2.5x growth in Amber Enterprises' business.
- For strategic positioning in the electronics sector, Amber Enterprises recently acquired a 60% stake in Israel-based Unitronics, and is open to more acquisitions and joint ventures to broaden its manufacturing footprint.
- Business and finance industry analysts are following Amber Enterprises closely, as it plans to make its PCBs in India, thereby enabling significant import substitution, and offering a subscription-based investment opportunity through the IPO and QIP.
- Jasbir Singh, Chairman & CEO of Amber Enterprises, stated that the company is carefully considering synergies and scalability for potential acquisitions, while looking for inorganic growth opportunities to fuel its business growth in the technology and finance sectors.
