The Competition Commission of India has approved the acquisition of certain shareholding of IL JIN Electronics (India) Private Limited (IL JIN/Target) by ChrysCapital Fund X (CC Fund X), Two Infinity Partners (Two Infinity), and Raptor Investments Limited (Raptor) (collectively Acquirers).

The Proposed Combination pertains to the acquisition by the Acquirers, collectively, of certain compulsorily convertible preference shares and equity shares in IL JIN.

Acquirers are private equity investors.

Target provides electronic manufacturing services, including the manufacturing of printed circuit board (PCB) assemblies, PCBs, and box-built products, which are set-top boxes, smart watches, micro-inverter smart meters, routers, chargers, and true wireless speakers. Further, Target is also engaged in the provision of energy solutions, including uninterrupted power supply, solar inverters, battery energy storage systems, electric vehicle chargers, and industrial software and hardware automation solutions through its relevant entities.

Detailed order of the Commission will follow.

Acquisition of IL JIN Electronics shareholding by private equity acquirers approved, covering convertible preference shares and equity. The Competition Commission of India approved a Proposed Combination under which ChrysCapital Fund X, Two Infinity Partners, and Raptor Investments will acquire certain compulsorily convertible preference shares and equity shares in IL JIN Electronics (India) Private Limited; the acquirers are private equity investors and a detailed order will follow.