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Amber Enterprises India Ltd. ( (IN:AMBER) ) just unveiled an update.
Amber Enterprises India Ltd. has announced the execution of definitive transaction agreements with its material subsidiary, ILJIN Electronics (India) Private Limited, and other investors. The agreements involve the issuance of 8,45,092 Compulsorily Convertible Preference Shares (CCPS) by ILJIN to raise Rs. 550 Crores for the company’s organic and inorganic growth in the electronics segment. This transaction will result in a reduction of Amber’s shareholding in ILJIN, with further details on the impact to be disclosed after the conversion of CCPS.
More about Amber Enterprises India Ltd.
Amber Enterprises India Ltd. operates in the electronics industry, focusing on manufacturing and providing a range of electronics products. The company is known for its involvement in the production and supply of air conditioners and other electronic components, with a significant market presence in India.
Average Trading Volume: 17,364
Technical Sentiment Signal: Buy
Current Market Cap: 285B INR
For an in-depth examination of AMBER stock, go to TipRanks’ Overview page.