MD of step-down subsidiary Ascent Circuits resigns after stake sale
AMBER · price
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Mr. Manjunath Punyamurthy resigned as Managing Director of Ascent Circuits, a step-down subsidiary of Amber, effective close of business on 18 June 2026. The exit follows completion of IL JIN Electronics acquiring an additional 37.50 percent stake in Ascent from Manjunath and his relatives under a Share Purchase Agreement dated 18 June 2026. IL JIN is a material subsidiary of Amber. The resignation is a contractual obligation under the SPA and not linked to any other reason.
Routine contractual exit tied to the stake acquisition, not a governance concern. IL JIN now has full control of Ascent, strengthening Amber's subsidiary consolidation.