Lesol City builds ₹1,000 cr Make-in-India play through distressed electronics asset buys

Mumbai-based Lesol City has scaled to ₹138 crore revenue by acquiring distressed assets including BAG Electronics, Renesola's consumer electronics arm and Usha Shriram lighting rights. With ₹40 crore invested, it targets ₹200-250 crore in FY26 and ₹1,000 crore in 3-4 years across EMS, EV electronics and consumer electricals, with a potential IPO ahead.

— Source publishedWed, 27 May, 2026, 16:45 IST·First seen Wed, 27 May, 2026, 16:49 IST·Source The Hindu BusinessLine

What happened

Mumbai-based Lesol City has scaled to ₹138 crore by acquiring distressed electronics assets including BAG Electronics, Renesola's consumer electronics and Usha

Key facts

  • ₹138 crore revenue
  • ₹40 crore invested
  • ₹200-250 crore FY26 target
  • ₹1,000 crore 3-4 year target
  • 40,000-50,000 BMS units/month
  • ₹5-10 crore BMS capex
  • ₹25 crore FY27 capex

Why this matters

Lesol City's roll-up of orphaned electronics brands creates a template for cheap entry into Make-in-India tailwinds—scan for remaining distressed lighting and EMS assets before consolidation premiums harden.