Amber Group to acquire majority stake in Shogini Technoarts; key details
According to the company's regulatory filing, the acquisition is aimed at strengthening Amber's in-house PCB production expertise and significantly reducing its reliance on external suppliers.
- Nov 15, 2025,
- Updated Nov 15, 2025 12:45 PM IST
Amber Enterprises India Limited, through its material subsidiary IL JIN Electronics (India) Private Limited, has entered into definitive agreements to acquire a majority stake in Shogini Technoarts Private Limited.
This strategic acquisition was announced in a filing with the stock exchanges on November 14, after market hours.
The target company, Shogini Technoarts, is a Pune-based manufacturer established in 1982. It specializes in producing a wide array of Printed Circuit Boards (PCBs), including single-sided, double-sided, multilayered, metal, and flexible PCBs. Shogini caters to a diverse clientele across sectors like automotive, defense, medical electronics, and telecommunications.
Following the completion of the deal, Shogini will become a subsidiary of IL JIN and, consequently, a step-down subsidiary of Amber Enterprises. The exact cost of the acquisition, described as a mutually agreed value, will be disclosed post-closing.
According to the company's regulatory filing, the acquisition is aimed at strengthening Amber's in-house PCB production expertise and significantly reducing its reliance on external suppliers. This move is expected to broaden Amber's product offerings with advanced PCB types, boost its manufacturing and design capabilities, and allow it to tap into new customer segments.
For the fiscal year 2023-2024, the company reported a turnover of Rs 33,250 lakh, which grew from Rs 29,737 lakh in the previous fiscal year (2022-2023). As of the 2024-2025 financial year, its turnover stood at Rs 39,074 lakh, it said.
Jasbir Singh, Executive Chairman and CEO of Amber Group, commented on the acquisition, stating that Shogini strengthens the group's bare PCB vertical and supports its progression toward becoming a full-stack, backward-integrated EMS company.
He noted that this acquisition, combined with existing facilities and strategic joint ventures, lays a strong foundation for Amber to become a leading PCB manufacturer in India, advancing the vision of 'Aatmanirbhar Bharat' by reducing import dependency.
Abhijit Tamhankar, Chairman & Managing Director of Shogini, emphasised a shared vision to harness synergies and scale the business, adding that both companies aim to accelerate growth and enhance value for customers.
Shares of Amber Enterprises India Limited closed 3.51 per cent higher on Friday at Rs 7,378.70 apiece on the BSE, up from its previous close of Rs 7,128.60. The company currently commands a market capitalisation of Rs 25,935 crore.
Amber Enterprises India Limited, through its material subsidiary IL JIN Electronics (India) Private Limited, has entered into definitive agreements to acquire a majority stake in Shogini Technoarts Private Limited.
This strategic acquisition was announced in a filing with the stock exchanges on November 14, after market hours.
The target company, Shogini Technoarts, is a Pune-based manufacturer established in 1982. It specializes in producing a wide array of Printed Circuit Boards (PCBs), including single-sided, double-sided, multilayered, metal, and flexible PCBs. Shogini caters to a diverse clientele across sectors like automotive, defense, medical electronics, and telecommunications.
Following the completion of the deal, Shogini will become a subsidiary of IL JIN and, consequently, a step-down subsidiary of Amber Enterprises. The exact cost of the acquisition, described as a mutually agreed value, will be disclosed post-closing.
According to the company's regulatory filing, the acquisition is aimed at strengthening Amber's in-house PCB production expertise and significantly reducing its reliance on external suppliers. This move is expected to broaden Amber's product offerings with advanced PCB types, boost its manufacturing and design capabilities, and allow it to tap into new customer segments.
For the fiscal year 2023-2024, the company reported a turnover of Rs 33,250 lakh, which grew from Rs 29,737 lakh in the previous fiscal year (2022-2023). As of the 2024-2025 financial year, its turnover stood at Rs 39,074 lakh, it said.
Jasbir Singh, Executive Chairman and CEO of Amber Group, commented on the acquisition, stating that Shogini strengthens the group's bare PCB vertical and supports its progression toward becoming a full-stack, backward-integrated EMS company.
He noted that this acquisition, combined with existing facilities and strategic joint ventures, lays a strong foundation for Amber to become a leading PCB manufacturer in India, advancing the vision of 'Aatmanirbhar Bharat' by reducing import dependency.
Abhijit Tamhankar, Chairman & Managing Director of Shogini, emphasised a shared vision to harness synergies and scale the business, adding that both companies aim to accelerate growth and enhance value for customers.
Shares of Amber Enterprises India Limited closed 3.51 per cent higher on Friday at Rs 7,378.70 apiece on the BSE, up from its previous close of Rs 7,128.60. The company currently commands a market capitalisation of Rs 25,935 crore.