NG Electro Secures Rs 150 Crore for Strategic Expansion

NG Electro Products has raised Rs 150 crore from JM Financial Private Equity and family offices to enhance its manufacturing capacity, boost R&D, and improve quality infrastructure. The funds will aid the company's expansion in contract manufacturing for consumer products across various sectors including home care and personal care.

NG Electro Products, a prominent contract manufacturing platform, announced on Thursday that it has successfully secured Rs 150 crore in funding. The investment comes from JM Financial Private Equity, alongside contributions from various family offices.

The capital is aimed at expanding the company's manufacturing capabilities, driving research and development, and reinforcing quality and compliance infrastructures. Piyush Mittal, the founder and managing director, expressed confidence that this financial backing will bolster NG Electro's foothold in consumer product contract manufacturing.

JM Financial Private Equity's involvement further solidifies its commitment to diverse sectors, with NG Electro being a notable addition to its portfolio alongside API Holdings, Bighaat Agro, and others. Through its India Growth Fund III, JM Financial continues to support impactful sector-agnostic investments.

(With inputs from agencies.)