AMBERAmber Enterprises India Ltd
Amber Enterprises' IL JIN Swaps Shares to Take Full Ownership of Ascent Circuits
- Agreement
- Electronics Manufacturing
Amber Enterprises India Limited has told the exchanges that IL JIN Electronics (India) Limited, its material subsidiary, signed a share swap agreement on 18 Oct 2026 with Ms. Manju Thomas, Mr. Mampra Chacko Thomas and Ascent Circuits Private Limited, a step-down subsidiary. IL JIN will buy 23,401 equity shares of Ascent Circuits, the balance 1.50% on a fully diluted basis, and will then hold 100%, making Ascent Circuits a wholly owned subsidiary of IL JIN and of Amber.
There is no cash. IL JIN will issue and allot 13,120 compulsorily convertible preference shares (CCPS A2) of face value ₹10 each, at an issue price of ₹10,000 each including a premium of ₹9,990, to Ms. Thomas, which values the swap at about ₹13.12 crore (derived). IL JIN already holds 98.50% of Ascent Circuits. The agreement has customary representations, warranties, indemnities and conditions.
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