Amber Enterprises India Limited has informed the Exchange about Acquisition of 16.60% equity stake in MoMagic Wireless Private Limited ( MoMagic ) by IL JIN Electronics (India) Private Limited ( IL JIN ), a material subsidiary of the Company, by subscription to fresh issue of equity shares allotted by MoMagic to IL JIN
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Amber Enterprises India Limited has announced that its material subsidiary, IL JIN Electronics (India) Private Limited, has successfully completed the first tranche acquisition of a 16.60% equity stake in MoMagic Wireless Private Limited. The acquisition was made by subscribing to fresh equity shares allotted by MoMagic. The total consideration for this transaction is Rs. 19,99,99,981.12 (approximately Rs. 20 crore), completed on 3rd April 2026. This is referred to as the 'first tranche,' suggesting additional acquisitions may follow in future tranches. The company had earlier submitted the required disclosures under SEBI LODR Regulations on 14th February 2026.
This acquisition by the listed company's subsidiary signals strategic expansion into MoMagic's business. The first tranche structure indicates potential future stake-building. While a 16.60% holding is minority, it represents a meaningful investment of ~Rs. 20 crore that could impact Amber's consolidated financials and strategic positioning.