Nextgen plans to raise up to $170 million in 12 months
The total phased investment for the fully integrated SiC power semiconductor project in Dholera, Gujarat, is estimated to be over USD 1 billion. Work on the project is expected to start by April 2026.
Nextgen Semiconductor, which is building a fully integrated SiC power semiconductor platform in Gujarat, plans to raise up to ₹15 billion (about USD 170 million) through equity and other instruments in the next 12 months, the company said.
Nextgen plans to set up a ‘wafer-to-power electronics components’ ecosystem that will accelerate India’s self-reliance in critical semiconductor technologies for EVs, renewable energy, data centres and industrial electronics, the company said, according to a report by Indian news agency PTI.
The total phased investment for the project in Dholera, Gujarat, is estimated to be over ₹88 billion (about USD 1 billion). Work on the project is expected to start by April 2026.
Nextgen is also partnering with Hitachi Energy to bring global best practices to India.
“By combining world-class facility and capacity with a phased execution, we are positioning India not only as a consumer but as a global supplier of Si and SiC devices,” said Raja Manickam, Director at Nextgen.
Nextgen is a joint initiative backed by both global and Indian investors Promoters include IVP (Malaysia), Transworld, Myotic, and Indian stakeholders such as Malvika Agarwal, Harsh Agarwal and Ayush Goel, according to a report by BISinfotech.
