Amber Enterprises India Ltd’s shares were up 0.34 per cent after the company finalised definitive agreements to acquire a majority stake of 60 per cent in Ascent Circuits pvt Ltd. This acquisition was executed through ILJIN Electronics, a subsidiary of the Amber Group.
The acquisition is a move for Amber to fortify its EMS portfolio by increasing local value addition and backward integration into passive components of PCB Assemblies.
Ascent, based in South India, is a manufacturer of Printed Circuit Boards, producing single-sided, double-sided, multi-layered, and RF PCBs. The company serves clients, including ISRO, BEL, BHEL, as well as customers in automotive, telecom, and consumer electronics, both domestic and multinational. Ascent’s PCBs find applications in sectors such as Aerospace & Defence, Medical, Energy solutions, Automotive, Telecom, Data centres, Consumer Electronics, IT, and Lighting. Additionally, Ascent exports its products to global markets.
Amber plans to expand its presence in the electronics (EMS) sector by enhancing its research and development capabilities and PCB assembly manufacturing through backward integration of Bare PCB Boards.
The company operating across three business verticals — consumer durables, EMS, and Railway subsystems and mobility — holds a presence in the manufacturing landscape. The consumer durables vertical includes room air conditioner finished goods and components, while the EMS business (ILJIN Electronics and EVER Electronics) delivers solutions in telecom, automotive, smart energy meters, consumer electronics and appliances, and hearables and wearables. The group’s involvement in Railway subsystems & mobility encompasses integrated solutions for rolling stock customers, addressing the needs of Indian Railways, Metro, RRTS, buses, and the Defence segment.
The shares were up by 0.34 per cent to ₹3 114.60 at 3.20 pm on the BSE.