Amber Enterprises India Limited has announced the execution of a Share Swap Agreement through its material subsidiary, IL JIN Electronics (India) Limited, to acquire the remaining 1.50% equity stake in Ascent Circuits Private Limited. This acquisition, valued at approximately ₹131.20 crore through the issuance of Compulsorily Convertible Preference Shares (CCPS A2), will make Ascent Circuits a wholly-owned subsidiary of IL JIN and consequently, Amber Enterprises. The transaction is being conducted on an arm’s length basis.
Amber Enterprises Consolidates Subsidiary Ownership
Amber Enterprises India Limited (the “Company”) has announced a strategic move to fully consolidate its ownership in its step-down subsidiary, Ascent Circuits Private Limited. Through its material subsidiary, IL JIN Electronics (India) Limited (“IL JIN”), the Company has entered into a Share Swap Agreement to acquire the remaining 1.50% equity stake in Ascent Circuits.
Key Transaction Details
The agreement, executed on October 18, 2026, involves IL JIN acquiring 23,401 equity shares of Ascent Circuits. As consideration for this stake, IL JIN will issue and allot 13,120 Compulsorily Convertible Preference Shares (CCPS A2) to the sellers. Each CCPS A2 has a face value of ₹10 and is issued at a price of ₹10,000, including a premium of ₹9,990. The total value of the CCPS A2 issued amounts to approximately ₹131.20 crore.
Strategic Rationale and Impact
This acquisition is set to make Ascent Circuits a wholly-owned subsidiary of IL JIN, thereby strengthening IL JIN’s and consequently Amber Enterprises’ control and ownership. The transaction aims to simplify and consolidate the shareholding structure of Ascent Circuits. The deal is being conducted on an arm’s length basis, ensuring fair valuation and terms for all parties involved. The company anticipates the completion of this transaction within 10 business days from the execution date of the Share Swap Agreement.
About Ascent Circuits
Ascent Circuits Private Limited, incorporated in 1999, is a significant player in the Electronics Industry, specializing in the manufacturing of Printed Circuit Boards (PCBs). It caters to a diverse range of sectors including Aerospace & Defence, Medical, Energy, Automotive, and Consumer Electronics, and also exports its products globally. For the financial year 2025-2026, Ascent Circuits reported a turnover of ₹40,187 lakh.
Source: BSE
