JM Financial Private Equity and family offices invested ₹150 crore in NG Electro Products, reflecting growing investor confidence in the electrical equipment and manufacturing sector.

JM Financial Private Equity, Family Offices Invest ₹150 Cr in NG Electro Products

Consumer goods-focused NG Electro Products on Thursday said it has raised Rs 150 crore from JM Financial Private Equity and some family offices.

The funds will be deployed to expand manufacturing capacity, accelerate investment in R&D and product innovation, and strengthen its quality and compliance infrastructure, according to a statement.

"This capital will allow us to accelerate capacity expansion, strengthen our footprint, and further deepen our product innovation capabilities," said Piyush Mittal, founder and managing director at NG Electro.

NG Electro Products is a contract manufacturing platform serving consumer brands across home care, beauty and personal care, and nutraceuticals.

Vinit Rai, the managing director of JM Financial PE, said NG is a differentiated platform in consumer product contract manufacturing over the years.

JM Financial Private Equity invested through its JM Financial India Growth Fund III, which is a sector-agnostic fund with a focus on investments in sectors such as financial services, consumer, manufacturing, technology and others (logistics, healthcare, agri-allied sectors, etc).