Amber Enterprises India Limited has informed the Exchange that the Material Subsidiary of the Company, ILJIN Electronics (India) Private Limited, has entered into into a Share Purchase Agreement and Shareholders Agreement ( Definitive Agreements ) with Power-One Micro Systems Private Limited and other parties as defined in the enclosed disclosure, for the acquisition of a majority stake in Power-One on 27 June 2025.
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Amber Enterprises' material subsidiary ILJIN Electronics has signed definitive agreements (Share Purchase Agreement and Shareholders' Agreement) on 27 June 2025 to acquire a majority stake in Bangalore-based Power-One Micro Systems Private Limited. Power-One operates in the power electronics and renewable energy space, manufacturing solar inverters, Battery Energy Storage Systems (BESS), UPS solutions, EV chargers and solar power plants. The company's turnover grew from Rs. 117 crore in FY22 to Rs. 185 crore in FY24. The deal is a cash transaction done at arm's length, with no regulatory approvals needed. Post-acquisition, Power-One will become a step-down subsidiary of Amber. The move is aimed at expanding Amber's Electronics Division into the high-growth energy solutions segment, leveraging its backward integration strengths in sheet metal, plastics, and PCB assembly.
This is a strategic expansion into the fast-growing energy storage and renewable energy solutions market, complementing Amber's existing electronics business. The step-down acquisition avoids direct dilution for Amber shareholders while adding a revenue-generating business in a high-growth sector, which is likely to be viewed positively by the market.