Amber Enterprises India Limited has informed the stock exchanges that its material subsidiary, IL JIN Electronics (India) Private Limited, executed Share Purchase Agreements on 18th June 2026 to acquire an additional 38.50% equity stake in Ascent Circuits Private Limited.
Pursuant to the SPAs, IL JIN will increase its shareholding in Ascent from 60% to 98.50%, attaining near-complete ownership and effective control over the company. The total consideration for the 38.50% stake is Rs 336.75 crore, payable in cash.
Ascent Circuits, incorporated in February 1999 and based in Bangalore, manufactures printed circuit boards including single-sided, double-sided, multi-layer, RF, flexible, and specialty PCBs for diverse electronics applications. The company's paid-up share capital stands at Rs 1.56 crore.
Ascent Circuits reported a turnover of Rs 401.87 crore in FY 2025-26, up from Rs 325.17 crore in FY 2024-25 and Rs 263.20 crore in FY 2023-24. The acquisition is classified as a related party transaction undertaken at arm's length, and no governmental or regulatory approvals are required.
IL JIN will complete the acquisition of 37.50% equity stake on or before 19th June 2026, while the remaining 1% stake is slated for completion by 30th June 2026. The transaction aligns with IL JIN's objective of strengthening its position in the electronics manufacturing sector and enhancing operational synergies across its subsidiaries.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.