IL JIN Electronics India Pvt Ltd to acquire PCB manufacturer Ascent Circuits Pvt Ltd

IL JIN Electronics (India) Private Limited ('ILJIN') the Material Subsidiary of Amber Enterprises India Ltd has entered into 'definitive agreements' with Ascent Circuits Private Limited ('Ascent') on 02 January 2024, for acquiring majority stake in the equity share capital of Ascent, which is one of the leading manufacturers of Printed Circuit Boards (PCBs) catering to a wide range of industries including Aerospace & Defence, Medical, Energy solutions, Automotive, Telecom, Data Centres, Consumer Electronics, IT, Lighting etc. Ascent manufactures Single Sided, Double Sided, Multi-Layered and RF PCBs. ("Business"). Ascent also exports its produce to global markets.

Pursuant to the said acquisition by IL JIN, Ascent will become subsidiary of IL JIN and Step Down subsidiary of the Company i.e. Amber Enterprises India Limited.

Amber as a group and Ascent are amongst the leading players in their respective segments. The Parties expect to leverage on each other's technical expertise and customer reach to further grow the Company by deepening, diversifying into backward integration of passive electronic components and expanding into new customer base and product portfolio.

Shares of Amber Enterprises India Limited was last trading in BSE at Rs. 3103.90 as compared to the previous close of Rs. 3140.45. The total number of shares traded during the day was 4858 in over 883 trades.

The stock hit an intraday high of Rs. 3151.20 and intraday low of 3075.00. The net turnover during the day was Rs. 15068025.00.

Source : Equity Bulls

Keywords

AmberEnterprisesIndia INE371P01015 ILJINElectronicsIndia Acquisition MajorityStake PCBMaker AscentCircuits