Amber Enterprises India Limited's material subsidiary, IL JIN Electronics (India) Private Limited, has completed the acquisition of a 60% stake in Power-One Micro Systems Private Limited for Rs. 262.00 crore. The transaction was finalized on August 5, with the consideration subject to adjustments as per definitive agreements.

Strategic Expansion in Industrial Electronics

The acquisition marks a significant step for IL JIN Electronics and its parent company, Amber Enterprises, in expanding their presence in the industrial electronics sector. Power-One Micro Systems is a prominent player in the rapidly growing battery energy storage systems and solar inverter space.

Power-One's Business Profile

Power-One specializes in various products including:

• On-grid, off-grid, and hybrid solar inverters
• EV chargers
• Industrial UPS systems

The company caters to a diverse customer base, including large public sector units and major corporations.

Financial Highlights

Strategic Benefits

The acquisition is expected to bring several advantages to IL JIN Electronics and Amber Enterprises:

1. Direct synergy with IL JIN's electronics division
2. Addition of high-margin power electronics and energy sector modules to the portfolio
3. Access to a multi-billion dollar total addressable market (TAM) in the power electronics sector
4. Opportunity to leverage group purchasing power and component ecosystem capabilities

Integration and Growth Plans

Jasbir Singh, Executive Chairman and CEO of Amber Enterprises, commented on the acquisition: "Power-One is a growing company with all the required eligible criteria for participating in government tenders. Their customer profile is very niche, including Power Grid Corporation of India, BEML, BHEL, NTPC, and large solar installations. We believe they will continue to grow at about a 40% rate."

Future Outlook

With this strategic move, IL JIN Electronics and Amber Enterprises are poised to strengthen their position in the industrial electronics segment. The acquisition aligns with the group's vision of expanding its portfolio in high-growth, high-margin sectors while contributing to India's manufacturing capabilities in line with the Atmanirbhar Bharat initiative.

As Power-One becomes a subsidiary of IL JIN and a step-down subsidiary of Amber Enterprises, the group looks forward to leveraging synergies and driving growth in the power electronics and energy storage markets.

Amber Enterprises has successfully completed the merger of two of its subsidiaries, marking a significant corporate restructuring move. The company announced the finalization of the amalgamation between IL JIN Electronics (India) Private Limited and Ever Electronics Private Limited, streamlining its organizational structure.

Merger Approval and Implementation

The National Company Law Tribunal (NCLT), Mumbai, approved the amalgamation scheme on May 30. Following this approval, the certified copy of the order was issued on June 24. The merger became effective on June 27, when both IL JIN Electronics and Ever Electronics filed the required e-Form INC-28 with the Registrar of Companies, Pune.

Final Steps and Status Change

The final approval for IL JIN Electronics was received on August 4, marking the completion of the merger process. As a result, Ever Electronics' status has been officially changed to an amalgamated company. This change reflects the successful integration of the two entities under the Amber Enterprises umbrella.

Significance of the Merger

Prior to the amalgamation, IL JIN Electronics (India) Private Limited was identified as a material subsidiary of Amber Enterprises, while Ever Electronics Private Limited was a subsidiary of the company. The merger is expected to consolidate operations, potentially leading to improved efficiency and streamlined business processes within the Amber Enterprises group.

Regulatory Compliance

Amber Enterprises has ensured full compliance with regulatory requirements throughout the merger process. The company filed the necessary intimations under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. This merger was executed under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013, along with the associated Rules.

Investor Information

Shareholders and stakeholders can access additional information about this corporate action on Amber Enterprises' official website at www.ambergroupindia.com . The company's proactive communication aims to keep investors informed about significant changes in its corporate structure.

This strategic move by Amber Enterprises represents a noteworthy development in the company's corporate structure, potentially impacting its operations and market position in the coming months.