ILJIN Electronics enters into JV agreement with Noise

A Joint Venture Agreement entered amongst, ILJIN Electronics (India) Private Limited ('ILJIN'), the material subsidiary of Amber Enterprises India Limited and Nexxbase Marketing Private Limited - Noise Brand ("NEXXBASE" or "Joint Venture Partner"), which is a Gurgaon based company engaged in the business of selling, distributing, marketing and advertising electronic products including smart watches, earphones, earbuds, headphones etc. under the leading brand i.e., "NOISE" through offline and online modes, to form a Joint Venture Company ("JVC"), to carry on the business of manufacturing, assembling and designing of wearables and other smart electronics products ("Business").

Pursuant to the said JV Agreement, the proposed JV Company will be 50% owned by ILJIN and 50% owned by NEXXBASE.

This Joint Venture will facilitate both the companies to cater with the evolving customer needs, deliver high quality products, and develop the local manufacturing & designing ecosystem in India.

NEXXBASE, under the leading brand i.e., 'Noise', crafts the latest personal technology accessories for Indian consumers and ILJIN fulfils the customer demands by delivering high-quality manufacturing solutions.

Shares of Amber Enterprises India Limited was last trading in BSE at Rs. 2967.45 as compared to the previous close of Rs. 2978.05. The total number of shares traded during the day was 4927 in over 954 trades.

The stock hit an intraday high of Rs. 3000.00 and intraday low of 2950.00. The net turnover during the day was Rs. 14663630.00.

Source : Equity Bulls

Keywords

AmberEnterprisesIndia INE371P01015 ILJINElectronics JVAgreement NexxbaseMarketing Noisebrand