Homegrown private equity firm ChrysCapital has acquired a significant minority stake in Nash Industries, a Bengaluru-based design and manufacturing solutions provider. According to reports from The Economic Times and Mint, the deal values Nash Industries at approximately ₹6,000 crore. People familiar with the matter indicated that ChrysCapital picked up about a 30% stake in the company at around ₹6,000 crore valuation. The transaction received approval from the Competition Commission of India (CCI) in January 2026, marking another high-profile investment by ChrysCapital as it doubles down on the "Make in India" manufacturing wave.
Nash Industries, founded in 1971, has evolved from a traditional engineering firm into a sophisticated manufacturing powerhouse. The company reported a turnover exceeding ₹2,100 crore (approx. $250 million) for the most recent fiscal year and employs over 1,300 specialized personnel, including a dedicated team of 150+ design engineers at its R&D arm, Nash Tech Labs. As reported by The Economic Times, the company operates 15 manufacturing facilities across South and West India and provides comprehensive design and manufacturing solutions with integrated capabilities across mechanical, electrical, electronics, and design domains. According to Mint, the company's revenues have quadrupled over the last 5 years, driven by shifts in global outsourcing, with revenues of ₹1,500-1,600 crore as of FY25.
With the fresh infusion of capital, Nash Industries is expected to pursue three key strategic initiatives: technological upgrades to expand specialized PCB and high-end electronics assembly lines, global expansion to strengthen sales presence in the US, Europe, and Japan, and potential acquisitions of smaller, niche tech firms to broaden its patent and product portfolio. According to Mint, the company is looking to create a manufacturing presence not just in India but globally, with recent launch of their Middle-East facility. Sandeep Wadhwa, joint managing director of Nash Industries, stated that the partnership will help the company invest more in technology, strengthen operations and deliver high-reliability solutions to customers across critical industries. The company is now selectively looking at acquisition opportunities depending on the sector and specialty they want to provide to customers.
Nash Industries serves more than 15 Fortune 500 companies across diverse mission-critical sectors including aerospace & defense, AI & computing, clean energy, and healthcare. The company recently unveiled its first family of "Make in India" motherboards based on Intel's Raptor Lake architecture. As reported by Mint, the company provides full-suite design and manufacturing solutions and offers integrated box-build capabilities, with around 60% exports and North America as a key market. This investment aligns with India's EMS market projected to reach $80 billion by 2030, fueled by the government's Production Linked Incentive (PLI) schemes and a global "China Plus One" strategy. Raghav Ramdev, managing director at ChrysCapital, noted that the capital infusion comes against the backdrop of rising investor interest in India's evolving electronics manufacturing and value-added industrial ecosystem.
The investment comes at an opportune time with the US-India trade deal announced on Monday night, which will slash US tariffs on Indian goods to 18% from 50%, lowering trade barriers between the two countries. Last month, India also concluded its free trade agreement with the European Union after more than two decades of negotiations, giving the world's most populous nation duty-free access to the EU. According to Mint, Sandeep Wadhwa, joint managing director of Nash Industries, described it as a "twin deal" that will benefit many Indian sectors and strengthen the long-term US-India partnership. Sanjay Wadhwa, chairman of Nash Industries, stated that the partnership with ChrysCapital is a strong endorsement of their platform and will help the company scale faster, deepen their technological capabilities, and respond to customer needs with greater agility. He emphasized that this is an inflection point for the entire manufacturing industry in India, driven by "China-plus-one" opportunities and "Make in India" initiatives.
