Amber Enterprises India Limited, through its material subsidiary IL JIN Electronics (India) Private Limited, has executed Share Purchase Agreements on June 18, 2026, to acquire an additional 38.50% equity stake in Ascent Circuits Private Limited. The acquisition will increase IL JIN's shareholding in Ascent from 60% to 98.50% in one or more tranches.
Ascent Circuits Private Limited, incorporated in February 1999, is a manufacturer of Printed Circuit Boards specializing in single-sided, double-sided, multi-layer, RF, flexible, and specialty PCBs. Ascent has an authorized share capital of Rs 2.50 crore and a paid-up capital of Rs 1.56 crore.
For the financial year 2025-2026, Ascent reported a turnover of Rs 401.87 crore, compared to Rs 325.17 crore in the previous year and Rs 263.20 crore in FY2023-2024.
The total consideration for the 38.50% equity stake is Rs 336.75 crore, payable in cash. IL JIN will complete the acquisition of a 37.50% stake on or before June 19, 2026, and the remaining 1% stake on or before June 30, 2026.
The transaction qualifies as a related party transaction and has been undertaken at arm's length. IL JIN held a 60% equity stake in Ascent prior to this acquisition. With this purchase, IL JIN will attain near-complete ownership and effective control over Ascent, enabling closer operational alignment 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.