NG Electro Products announced it has raised Rs 150 crore from JM Financial Private Equity and some family offices. The funds will be used to expand manufacturing capacity, accelerate investment in R&D and product innovation, and strengthen its quality and compliance infrastructure. Piyush Mittal, founder and managing director at NG Electro, stated, “This capital will allow us to accelerate capacity expansion, strengthen our footprint, and further deepen our product innovation capabilities.” NG Electro Products operates as a contract manufacturing platform for consumer brands in home care, beauty and personal care, and nutraceuticals. Vinit Rai, managing director of JM Financial PE, noted that NG is a differentiated platform in consumer product contract manufacturing. JM Financial Private Equity invested through its JM Financial India Growth Fund III, which focuses on various sectors including financial services, consumer, manufacturing, and technology.
