Amber Enterprises has signed a definitive agreement to acquire a majority stake in Shogini Technoarts. The company confirmed the development in a joint statement.
The agreement has been executed through Amber’s subsidiary, IL JIN Electronics, which will utilise Shogini’s capabilities in printed circuit board (PCB) manufacturing. The partnership will combine Shogini’s engineering strengths and software expertise to deliver advanced manufacturing solutions for marquee clients across multiple sectors.
Though, the financial terms of the transaction have not been disclosed.
Further, the development follows Amber’s recent strategic move into PCB production, with a multi-layer PCB facility coming up in Hosur involving an investment of Rs 9.90 billion. The company has also partnered with Korea Circuits to develop high-density interconnect PCBs at a new facility in Jewar, with an investment exceeding Rs 32 billion.
