Amber Enterprises Subsidiary IL JIN Acquires 38.5% More in Ascent Circuits

Amber Enterprises India Limited announced that its material subsidiary, IL JIN Electronics (India) Private Limited, has executed Share Purchase Agreements (SPAs) to acquire an additional 38.50% equity stake in Ascent Circuits Private Limited. This acquisition, valued at Rs. 336.75 Crore, will increase IL JIN's shareholding in Ascent from 60% to 98.50%. The move is expected to result in near-complete ownership and effective control for IL JIN over Ascent, facilitating closer operational alignment, streamlined governance, and enhanced synergies across subsidiaries. The transaction is considered a related party transaction but has been conducted at an arm's length.