CG Semi

What CG Semi does

CG Semi Private Limited is an India-based joint venture founded in 2023 that provides Outsourced Semiconductor Assembly and Testing (OSAT) services to enterprise customers in the automotive, IoT, industrial, infrastructure, and 5G sectors globally, spanning the United States, Europe, and Asia. The company was formed by CG Power and Industrial Solutions Limited (a Murugappa Group company), Renesas Electronics America Inc., and Stars Microelectronics (Thailand) Public Co., Ltd., combining CG Power's manufacturing scale and engineering conglomerate expertise, Renesas's two-decade semiconductor technology leadership, and Stars Microelectronics's 20+ years of legacy-package OSAT process know-how.

The company's product portfolio covers both traditional semiconductor packages (QFN, QFP, SOIC, TSSOP, SOP) and advanced flip-chip packages (FC BGA, FC CSP, FC QFN), enabling it to compete across mainstream and higher-end assembly and testing segments. CG Semi is building a greenfield manufacturing facility in Sanand, Gujarat under an INR 7,600 Crores (approximately USD 910 million) government-approved project outlay, with backing from both the Central Government of India and the Government of Gujarat under the Make in India semiconductor self-reliance initiative. The facility is designed to reach an installed capacity of up to 4.7 billion units annually over the next five years.

Commercially, CG Semi operates a B2B contract-manufacturing model with transaction-fee pricing negotiated per customer, package type, volume, and contract terms, going to market through direct enterprise sales and leveraging Renesas's and Stars Microelectronics's existing customer networks. The company has not yet disclosed standalone revenue, and the Sanand facility is in build phase; once operational, CG Semi will compete in the global OSAT market against established Taiwan, South Korea, and China incumbents, with an India-based cost structure and government-backed capital position as its primary differentiators.

Name

CG Semi

Legal name

CG Semi Private Limited

Website

https://cgsemi.com

Company type

Private

Founded year

2023

Operating status

Operating

Short description

CG Semi Private Limited is an India-based joint venture providing outsourced semiconductor assembly and testing (OSAT) services — both traditional and advanced packaging — for automotive, IoT, industrial, infrastructure, and 5G customers globally.

Ownership category

akta.pro rank

Product category

Semiconductor Assembly & Testing Services (OSAT)

NAICS

Semiconductor and Other Electronic Component Manufacturing (33441), Printed Circuit Assembly (Electronic Assembly) Manufacturing (334418)

SIC

Services-Testing Laboratories (8734), Misc Industrial & Commercial Machinery & Equipment (3590)

akta.pro primary industry

Assembly & Packaging Services (Wirebond/Flip-Chip/FCBGA) (HDAHADAA)

akta.pro secondary industries

Outsourced Semiconductor Manufacturing Services (Back-End EMS/Turnkey) (HDAHADAJ), Test Services (Wafer Sort, Final Test, Burn-In) (HDAHADAD)

Keywords

• Semiconductor assembly
• OSAT services
• Semiconductor packaging
• Chip testing services
• Semiconductor manufacturing

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Technology or R&D, Personnel, Operations, Supply Chain, Marketing or Sales

Revenue model

1. OSAT Manufacturing Services: Outsourced Semiconductor Assembly and Testing services providing contract manufacturing for semiconductor packages. Revenue generated through processing fees for assembly and testing services based on unit volume and complexity of packages manufactured.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

CG Semi provides Outsourced Semiconductor Assembly and Testing (OSAT) services, offering both traditional packages (QFN, QFP, SOIC, TSSOP, SOP) and advanced packages (FC BGA, FC CSP, FC QFN). The company also delivers comprehensive test services on a global scale to semiconductor clients across automotive, IoT, industrial, infrastructure, and 5G sectors.

Product overview

CG Semi Private Ltd. is a joint venture offering a unified OSAT (Outsourced Semiconductor Assembly and Testing) platform that provides comprehensive semiconductor assembly and testing services globally. The company's product portfolio spans traditional semiconductor packages (QFN, QFP, SOIC, TSSOP, SOP) and advanced packages (FC BGA, FC CSP, FC QFN), serving critical sectors including automotive, IoT, industrial, infrastructure, and 5G technologies. The OSAT services form the core offering, with a planned cutting-edge manufacturing facility in Sanand, Gujarat designed to achieve an installed capacity of up to 4.7 billion units annually.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• Capacity of up to 4.7 billion units annually
• +3 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered core.

• CG Power and Industrial Solutions LimitedcoreStrategic or Co-development PartnerCG Power and Industrial Solutions Limited is the parent company of CG Semi. As part of the Murugappa Group since November 2020, CG Power brings engineering conglomerate expertise, manufacturing proficiency, and robust market capitalization exceeding INR 8,000 crores (FY'24). CG Power's decades of manufacturing expertise and scaling operations capabilities are instrumental in the joint venture.
• Renesas Electronics America Inc.coreStrategic or Co-development PartnerRenesas, headquartered in Japan, is a pioneer in semiconductor technology with over two decades of innovation across automotive, industrial, infrastructure, and IoT applications. With workforce exceeding 21,000 globally and FY'23 revenues exceeding USD 10 billion, Renesas enriches the venture with vast semiconductor technology expertise and experience instrumental in operations.
• Stars Microelectronics (Thailand) Public Co., Ltd.coreStrategic or Co-development PartnerStars Microelectronics brings over 20 years of specialized experience in OSAT for legacy packages, further supported by robust training programs and technological empowerment. With a dedicated team of over 1,000 and FY'23 revenue of more than USD 70 million, Stars serves an expansive clientele across the United States, Europe, and Asia.
• Central Government of IndiacoreOthersThe Central Government of India supports CG Semi's project with government backing, contributing to the approved project outlay of INR 7,600 Crores for the manufacturing facility in Sanand, Gujarat. This support aligns with India's semiconductor self-reliance initiatives.
• Government of GujaratcoreOthersThe Government of Gujarat provides support for CG Semi's cutting-edge manufacturing facility in Sanand, Gujarat. This regional government backing is part of the INR 7,600 Crores approved project outlay and supports the Make in India semiconductor initiative.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• UTAC Holdings: Singapore-headquartered OSAT with strong automotive and industrial analog/mixed-signal packaging expertise. Similar target customer profile and packaging focus to CG Semi.
• Amkor Technology: A leading global OSAT with deep automotive and advanced packaging exposure, including FCBGA. Closest Western-headquartered analog to CG Semi in target customer set and packaging breadth.
• Powertech Technology: Taiwan-listed OSAT with strong legacy-package and memory packaging exposure. Comparable in product breadth and scale to CG Semi's traditional + advanced packaging portfolio.
• JCET Group: China's largest OSAT offering traditional and advanced packaging across automotive, industrial, and consumer. Comparable scale of capacity build-out and end-market mix to CG Semi.
• Tongfu Microelectronics: Major Chinese OSAT serving automotive, industrial, and consumer markets. Closest regional-scale comparator for CG Semi's greenfield capacity ramp and customer-acquisition strategy.
• ChipMOS Technologies: Taiwan-listed OSAT with leading positions in memory and mixed-signal packaging and test. Comparable in test-services capability and mixed traditional/advanced packaging offering.
• Stars Microelectronics (Thailand): CG Semi's own JV partner and a Thailand-based OSAT specializing in legacy packages (QFN, QFP, etc.). Highly comparable to CG Semi's traditional-packaging line and Southeast Asian customer reach.

Regional players

• Hana Microelectronics: Thailand-based OSAT/EMS provider serving automotive, industrial, and IoT customers across Asia. Directly comparable regional player given Stars's Thailand base and CG Semi's Asia-Pacific go-to-market.

Broad incumbents

• ASE Technology Holding: The world's largest OSAT provider with full-spectrum packaging and test services. Direct benchmark for CG Semi's combined traditional + advanced packaging model and global customer footprint.

Emerging players

• King Yuan Electronics (KYEC): Taiwan's largest pure-play semiconductor test house, providing final test and burn-in services. Closest pure-play test-services peer for CG Semi's 'Comprehensive Test Services' offering.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights5 records

Customer concentration

• Xx.com/CGSEMI_Official
• LinkedInlinkedin.com/company/cg-semi

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CG Semi