Nextgen Semiconductor to Raise ₹1,500 Crore for Gujarat Chip Plant

Nextgen Semiconductor has announced plans to raise between ₹1,000 crore and ₹1,500 crore over the next 12 months through equity and other financial instruments to fund its upcoming chip manufacturing facility in Gujarat. The company has already committed over ₹8,800 crore in phased investments to develop India’s first fully integrated Silicon (Si) and Silicon Carbide (SiC) power semiconductor platform in Dholera.

According to the company, the project will create a complete “wafer-to-power electronics components” ecosystem, supporting critical sectors such as electric vehicles, renewable energy, data centres, and industrial electronics. Construction work at the Dholera site is expected to begin by April 2026, with the plant scheduled for commissioning within 15 months. The project has already secured land allocation and is currently under review by the India Semiconductor Mission (ISM).

The initiative is backed by both global and Indian investors, including IVP, Transworld, Malaysian firm Myotic, and entrepreneurs Malvika Agarwal, Harsh Agarwal, and Ayush Goel. Nextgen has also partnered with Hitachi Energy and its associates to bring international expertise and global market access. Director Raja Manickam said the venture will help transform India into not just a consumer but also a global supplier of Si and SiC devices.

Source: The Economic Times