IL JIN Electronics to Acquire 19.92% Stake in MoMagic Wireless for Rs. 25 Crore

IL JIN Electronics, a material subsidiary of Amber Enterprises India Ltd, has entered into definitive transaction agreements with MoMagic Wireless Private Limited, MoMagic Technologies Private Limited, Mr. Arun Kumar Gupta, and Ms. Ritu Gupta to acquire 19.92% equity stake in MoMagic for a total purchase consideration of Rs. 25 Crore. MoMagic is a Delhi based company established in 2025 and engaged in the business of designing, developing and supplying of wireless Communication Modules and undertaking research and development activities relating to Wireless Communication Modules. This strategic move is expected to create new growth opportunities, broaden the customer base, and reinforce the IL JIN’s competitive position, while also fostering synergies in research, product innovation, and market expansion to deliver long-term value for stakeholders.