Amber Enterprises Subsidiary Acquires Remaining Stake in Ascent Circuits

Amber Enterprises India Ltd announced that its material subsidiary, IL JIN Electronics (India) Limited, has acquired the remaining 1.50% equity stake in Ascent Circuits Private Limited through a share swap agreement. IL JIN will issue 13,120 Compulsorily Convertible Preference Shares (CCPS A2) to the seller as consideration. Upon completion, Ascent Circuits will become a wholly-owned subsidiary of IL JIN and consequently, Amber Enterprises. This transaction is considered a related party transaction but is being conducted on an arm's length basis.