Acquisitions15 Feb 2026, 10:17 pm
Amber Enterprises India Ltd Subsidiary, IL JIN, Acquires Control Over Stelltek Through Majority Board Representation
AI Summary
IL JIN Electronics (India) Private Limited, a material subsidiary of Amber Enterprises India Ltd, has acquired control over Stelltek Technologies Private Limited through a majority Board representation, following an Amendment Agreement to the Joint Venture Agreement dated 18 September 2023 with Stelltek and Nexxbase Marketing Private Limited. This move has resulted in Stelltek becoming a step-down subsidiary of Amber.
Key Highlights
- IL JIN has been granted the right to nominate and appoint the majority of Directors on the Board of Stelltek.
- IL JIN has acquired control over Stelltek through a majority Board representation, gaining authority over its management and decisions.
- Stelltek has ceased to be a joint venture of ILJIN and has become a subsidiary of IL JIN, thereby becoming a step-down subsidiary of Amber.
- IL JIN has initiated the appointment of Mr. Sudhir Goyal as a Non-Executive Additional Director on the Board of Stelltek.
- Stelltek is engaged in the business of Manufacturing, assembling and designing of wearables and other smart electronics products.