Shares of Amber Enterprises India Ltd rose 1% to hit a day’s high of Rs 7,505 on 17th November. This was after the firm announced the acquisition of a majority stake in Shogini Technoarts Pvt Ltd.

Amber Enterprises said on Friday that its subsidiary, IL JIN Electronics India Pvt Ltd, has signed a definitive agreement to acquire a majority stake in Shogini. The financial details will be disclosed after the deal is completed. Additionally, the transaction will be carried out at a mutually agreed value.

Shogini is among India’s top five PCB manufacturers. It produces single-sided, double-sided, multi-layer, metal-clad, and flex PCBs from its Pune facility. Its products are used across sectors such as automotive, medical electronics, defence, industrial electronics, power electronics, telecom, LED lighting, and computer peripherals. The acquisition will be completed in one or more tranches, with no fixed timeline.

Amber Enterprises recently acquired Ascent Circuits. Moreover, it plans to invest Rs 3,000 crore in HDI PCB manufacturing through its joint venture with Korea Circuits. Executive chairman and CEO Jasbir Singh said the Shogini acquisition strengthens the group’s PCB capabilities. It also supports its goal of becoming a fully integrated electronics manufacturing services provider.

Shogini CMD Abhijit Tamhankar said joining the Amber Group will help accelerate growth. Furthermore, it will enhance value for customers across different industries.

At 1:17 PM, shares of Amber Enterprises India were trading 1.19% higher at Rs 7,464 on NSE.

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