IL JIN Electronics Acquires Additional Equity Stake in Ascent Circuits, Targeting Near Complete Ownership
IL JIN Electronics (India) Private Limited, a material subsidiary of Amber Enterprises India Limited, has executed Share Purchase Agreements (SPAs) for the acquisition of an additional equity stake in Ascent Circuits Private Limited. This transaction is set to significantly increase IL JIN's holding in Ascent, moving from its current 60% stake to 98.50%.The SPAs were finalized on June 18, 2026, involving IL JIN, Mr. Manjunath Punyamurthy, and other shareholders of Ascent Circuits Private Limited (collectively referred to as the parties). The acquisition is designed to enhance operational synergies and achieve near complete ownership for IL JIN over the subsidiary.
The total consideration for the acquisition of the additional 38.50% equity stake in Ascent was reported at Rs. 336.75 Crore.
IL JIN's planned purchase of the 38.50% equity is scheduled to be completed on or before June 19, 2026. An additional acquisition of a 1% equity stake is slated for completion by June 30, 2026.
Ascent Circuits Private Limited operates in the Electronics Manufacturing Industry and specializes in the production of Printed Circuit Boards (PCBs), including single sided, double sided, multi-layer, RF, flexible, and specialty PCBs.
Key details regarding Ascent Circuits Private Limited include:
| Metric | Value |
|---|---|
| Business Focus | Manufacturing of Printed Circuit Boards (PCBs) |
| Incorporation Date | February 1, 1999 |
| Authorized Share Capital | Rs. 2,50,00,000 |
| Paid-up Share Capital | Rs. 1,56,00,000 |
| Turnover (FY 2023 - 2024) | 26,320 (in Lakh) |
The transaction involves IL JIN and Ascent as part of Amber's corporate structure; IL JIN is a material subsidiary of Amber Enterprises India Limited, and Ascent is a step down subsidiary of the Company. The acquisition has been conducted at arm's length and qualifies as a related party transaction.
AMBER Stock Price Movement
As of 1:59 PM, Amber Enterprises India Limited rallies to ₹8037.5, edging up by 2.21% as it trades in the live market. The stock has seen brisk activity today, with over 336,931 shares traded so far.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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