Shares of Amber Enterprises India Ltd rose 2.5% to touch a day’s high of Rs 7,479 on 28th July, after the firm announced plans to acquire a controlling stake in Israel-based Unitronics (1989) (R “G) Ltd.

Amber Enterprises said in a regulatory filing that its electronics arm, ILJIN Electronics, has signed agreements to acquire up to 40.24% of Unitronics’ shares. Following the deal, Amber will jointly hold a 45.13% stake in the company. This ownership will be along with promoter Haim Shami.

The acquisition is aimed at expanding ILJIN’s industrial application capabilities and strengthening its competitive edge in India. Moreover, it aims to tap into the growing demand for Industry 4.0 solutions. The acquisition will also provide Amber with access to key markets, such as the US and Europe.

The stake purchase is valued at 15.6 crore Israeli New Shekels (about Rs 404 crore). It is expected to close within 60 business days.

At 12:48 PM, the shares of Amber Enterprises were trading 2.52% higher at Rs 7,457 on NSE.

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