Amber Enterprises , through its material subsidiary Il Jin Electronics, has completed the acquisition of an 80% stake in Pune-based Shogini Technoarts Private Limited. The deal, valued at approximately Rs 5.06 billion, marks a significant step in strengthening Il Jin's position in the printed circuit board (PCB) manufacturing sector.

Acquisition Details

The acquisition, which was previously announced through a Share Purchase Agreement (SPA) and a Shareholders' Agreement (SHA), has now been finalized. Il Jin Electronics has successfully acquired a majority stake in Shogini's equity share capital, expanding Amber Enterprises' portfolio through this strategic investment.

About Shogini Technoarts

Established in 1982, Shogini Technoarts is a prominent manufacturer of various types of PCBs, including single-sided, double-sided, multi-layered, metal clad, and flexible PCBs. The company caters to a wide range of applications across industries such as automotive, defense, medical electronics, industrial electronics, power electronics, process control, telecommunication, computer peripherals, and LED lighting.

Financial Highlights

Shogini Technoarts has demonstrated consistent growth over the past three years:

Strategic Rationale

The acquisition is expected to yield several benefits for Il Jin Electronics:

1. Strengthening in-house PCB production expertise
2. Reducing reliance on external suppliers
3. Broadening product offerings with advanced PCB types
4. Advancing manufacturing, innovation, and design capabilities
5. Tapping into new customer segments and markets

Management Commentary

Mr. Jasbir Singh, Executive Chairman and CEO of Amber Group, had previously stated, "Shogini further strengthens the bare PCB vertical and Amber Group's progression into a leading full-stack, backward-integrated EMS company. Together with Ascent Circuits' existing facility, the upcoming new facility, and our strategic JV with Korea Circuit, we are laying a strong foundation to emerge as a leading PCB manufacturer in the country."

Mr. Abhijit Tamhankar, Chairman & Managing Director of Shogini, had added, "This strategic partnership with Amber Group marks a pivotal moment in our journey, driven by a shared vision to harness synergies and scale the business. Together, we aim to accelerate growth, empower teams, and enhance value to our customers across diverse sectors."

Transaction Outcome

With the completion of this acquisition, Shogini Technoarts has become a subsidiary of Il Jin Electronics and a step-down subsidiary of Amber Enterprises India Limited. The final cost of the acquisition, approximately Rs 5.06 billion, has now been disclosed.

This strategic move is expected to contribute significantly to Il Jin Electronics' growth in the PCB manufacturing sector and support the vision of 'Aatmanirbhar Bharat' by advancing local manufacturing capabilities in the electronics industry.

Amber Enterprises India Limited , a key player in the consumer durables and electronics manufacturing sector, has executed amendment agreements to revise the allocation of equity shares and preference shares among investors in its material subsidiary, ILJIN Electronics. The amendments, executed on November 13, 2025, primarily affect the distribution between Raptor Investments Limited and Two Infinity Partners while maintaining the total subscription amount of Rs. 1,100.00 crore.

Revised Allocation Details

The amendment agreements have resulted in a reallocation of securities amongst the investors, changing their respective inter-se proportions. However, it's important to note that the aggregate number of securities and the total subscription amount remain unchanged at Rs. 1,100.00 crore. The revised allocation is as follows:

This adjustment in allocation demonstrates Amber Enterprises' strategic approach to structuring its investments and partnerships within the electronics segment.

Funding for Growth

The investment in ILJIN Electronics is earmarked for both organic and inorganic growth in the electronics segment. This move aligns with Amber Enterprises' broader strategy to strengthen its position in the rapidly evolving electronics manufacturing landscape.

Corporate Governance and Transparency

In line with regulatory requirements, Amber Enterprises has promptly disclosed this development to the stock exchanges, adhering to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This transparency ensures that shareholders and potential investors are kept informed about significant changes in the company's subsidiary investments.

Strategic Implications

The revised investment structure in ILJIN Electronics could have several strategic implications:

1. Balanced Investor Participation: The reallocation may reflect a more balanced participation among the investors, potentially aligning their interests more closely with the company's growth objectives.

2. Flexibility in Future Funding: By maintaining the total subscription amount while adjusting individual allocations, Amber Enterprises retains flexibility in its funding structure, which could be beneficial for future growth initiatives.

3. Focus on Electronics Segment: The substantial investment of Rs. 1,100.00 crore underscores Amber Enterprises' commitment to expanding its electronics manufacturing capabilities, potentially positioning the company to capitalize on the growing demand in this sector.

Outlook

While the amendment itself doesn't change the total investment amount, it reflects Amber Enterprises' proactive management of its subsidiary's capital structure. As the electronics segment continues to be a key growth driver for the company, investors will likely watch closely how this investment translates into operational expansion and market share gains in the coming quarters.

Amber Enterprises' strategic moves in its electronics division, coupled with its transparent communication with stakeholders, indicate a focused approach towards enhancing its competitive position in the electronics manufacturing ecosystem.