Amber Enterprises India Limited invests in Sricity Electronics Manufacturing Cluster Private Limited

As per the notification of Ministry of Electronics and Information Technology ('MEITY') guidelines for constitution of special purpose vehicle ('SPV') for implementation of Electronic Manufacturing cluster ('EMC'), the companies / EMC units which buys land / having lease lands in Sri City EMC must hold 51% of the share capital of SPV together with no single company / EMC unit holding more than 25% shares of SPV the Company, the company has invested Rs. 60,64,680/- (Rupees Sixty Lakh Sixty-Four Thousand Six Hundred Eighty Only) in Sricity Electronics Manufacturing Cluster Private Limited ("Sricity") and has been allotted 6,06,468 equity shares at a face value of Rs. 10 per share comprises of 10.94% Share Capital of Sricity.

Sricity Electronics Manufacturing Cluster Private Limited is an exclusive zone for companies involved in electronic R&D, design, manufacturing and assembly operations.

In its first phase, around 94 Acres of land is allotted for setting up of Greenfield Electronics Manufacturing Cluster within Sri City ("EMC Project") consisting of electronic manufacturing units, training center, testing labs and R&D centers for the units and any other condition that as may be approved by the Ministry of Electronics and Information Technology ("MEITY").

The Company has already been allotted 16.35 acres of land in the EMC for the purpose of future business expansion.

Shares of Amber Enterprises India Limited was last trading in BSE at Rs. 3309.75 as compared to the previous close of Rs. 3314.35. The total number of shares traded during the day was 1052 in over 328 trades.

The stock hit an intraday high of Rs. 3324.15 and intraday low of 3295.85. The net turnover during the day was Rs. 3479887.00.

Source : Equity Bulls

Keywords

AmberEnterprisesIndiaLimited INE371P01015 ConsumerElectronics Sricity Investment