Amber Enterprises India Limited informed the stock exchanges on 19th June 2026 that Mr. Manjunath Punyamurthy resigned as Managing Director of Ascent Circuits Private Limited, a step-down subsidiary of Amber Enterprises. The resignation took effect from the close of business hours on 18th June 2026.
Ascent Circuits Private Limited is a subsidiary of IL JIN Electronics (India) Private Limited, a material subsidiary of Amber Enterprises India Limited. Ascent Circuits functions as a step-down subsidiary of Amber Enterprises, which is listed on the NSE and BSE under the symbol AMBER with scrip code 540902.
The resignation follows the conclusion of a share purchase agreement dated 18th June 2026 between IL JIN Electronics, Mr. Punyamurthy, and other shareholders of Ascent Circuits. Under the SPA, IL JIN Electronics acquired an additional 37.50% equity stake in Ascent Circuits from Mr. Punyamurthy and his relatives, and the transaction was completed on 19th June 2026.
The share purchase agreements provided for IL JIN Electronics to acquire a total of 38.50% additional equity stake in Ascent Circuits in one or more tranches. The other shareholders party to the agreements included Sanjana Punyamurthy Manjunath, Sunaina Punyamurthy Manjunath, Mampra Chacko Thomas, and Manju Thomas. The resignation was tendered following the conclusion of the first tranche of this acquisition.
Mr. Punyamurthy, who holds DIN 00900902, submitted his resignation letter dated 18th June 2026 to the Board of Ascent Circuits, covering his roles as Managing Director and as an employee. He requested a copy of the board resolution accepting his resignation within three business days. Amber Enterprises confirmed the resignation was tendered under the contractual covenants of the SPAs and was not attributable to any other reasons.
The disclosure was made under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The intimation was submitted to both the BSE and the National Stock Exchange, and is available on Amber Enterprises' website.
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.