AMBERAmber Enterprises India Ltd.
Amber Enterprises India's IL JIN completes Ascent Circuits stake buy
- Mergers & acquisitions
- Electronics manufacturing
Reviewed byRachit TripathiBlacklitt Research
Amber Enterprises India (NSE: AMBER) said in a filing on 03 Nov 2026 that its material subsidiary IL JIN Electronics (India) Limited has completed the purchase of the remaining 1.50% equity stake in Ascent Circuits Private Limited, making it a wholly owned step-down subsidiary of the company. The purchase was made under a share swap agreement executed on 18 Oct 2026.
The acquisition and its consideration
IL JIN acquired the remaining 23,401 equity shares of Ascent Circuits from Ms. Manju Thomas, the seller, representing the balance 1.50% stake on a fully diluted basis. Following the acquisition, IL JIN holds 100% of Ascent Circuits' equity share capital.
IL JIN allotted 13,120 Compulsorily Convertible Preference Shares A2 (CCPS A2) to the seller as non-cash consideration, in terms of the share swap agreement. The earlier disclosures under SEBI's format were submitted as Annexures A and B to the intimation dated 18 Oct 2026.
How the step fits the group
The step follows an intimation of 18 Oct 2026 on the same share swap, which the company had reported as taking full ownership of Ascent Circuits. Amber's market value was ₹22,080 crore at the 03 Nov 2026 close, and its latest reported quarter, Q1 FY27, showed consolidated net profit of ₹3.09 crore.
What the Ascent Circuits step means for Amber's shareholders
The change completes IL JIN's ownership of Ascent Circuits and makes it a wholly owned step-down subsidiary of Amber. The filing does not state the monetary value of the deal, the price of the 1.50% stake, the conversion ratio, coupon or redemption terms of the CCPS A2, or the effect on the company's results. The filing does not give a next dated step.
At a glance
| Item | Detail |
|---|---|
| Subsidiary acquired | Ascent Circuits Private Limited |
| Acquiring company | IL JIN Electronics (India) Limited |
| Stake acquired | 23,401 equity shares, 1.50% fully diluted |
| Holding after completion | 100% |
| Seller | Ms. Manju Thomas |
| Consideration | 13,120 CCPS A2, non-cash |
| Share swap agreement | 18 Oct 2026 |
Filed with BSE on . Reference: Original filing (PDF)
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