Amber Group enters into definitive agreements to take majority stake in Power-One Micro Systems Pvt. Ltd

IL JIN Electronics India Pvt Ltd, a material subsidiary of Amber Group, has entered into definitive agreements for taking majority stake in Bengaluru based PowerOne Micro Systems Pvt. Ltd.

Incorporated in 1998, and headquartered in Bengaluru, Karnataka, originally established as an UPS manufacturer, Power-One has evolved into a leading solar inverter company, delivering wide spectrum of products such as on-grid, oƯ-grid, and hybrid solar inverters (1kW to 250kW), UPS systems, solar power plants, EV chargers (AC & DC), Battery Energy Storage Systems (BESS) catering to marquee public sector clients like HAL, BHEL, BEML, NTPC, PGCIL, as well as several leading private sector enterprises including Tata Group, L&T, Aditya Birla Group, Renew power and Jackson.

Power-One serves diverse customers, with more than 7,00,000 products sold across key segments including industrial, residential, data centres, heavy engineering, defence, railways, and airports. The company has a widespread PAN India network of sales and service with workforce of over 400 employees.

Power-One Micro Systems oƯers a strong platform to unlock avenues of operational synergies and strategic growth opportunities. IL JIN's (Amber group company) extensive experience in electronic manufacturing services, operational excellence, pan-India manufacturing footprint and R&D capability will catalyse Power-One to expand its capabilities, accelerate product innovation, and strengthen its position in the Battery Energy Storage Systems (BESS), solar inverters, EV chargers, UPS and solar power plants thereby contributing to the India's broader commitment to achieve sustainability in the power sector and transitioning towards renewable energy sources, in accordance with the National Solar Mission.

Mr. Jasbir Singh, Executive Chairman and CEO of Amber Group, said: "This transaction will provide a strong foothold for Amber's Electronic Division into the rapidly growing sector for Battery Energy Storage Systems (BESS), EV chargers, UPS and Solar inverter (on grid, oƯ grid and hybrid) market.

This marks a significant addition for our Electronic Division - IL JIN expanding its portfolio from Consumer Durables, Hearable and Wearable, Telecom, Automotive, Energy Meters, Defence into industrial segment.

Our combined strengths will enable us to scale and innovate while increasing the local value addition of Battery Energy Storage Systems (BESS) and Solar Inverters (On Grid, OƯ Grid and Hybrid) in the country and achieve the larger objective of Atmanirbhar Bharat".

Mr. Rajesh and Mr. Harsha, the promoters of Power-One Micro System, said: "This strategic partnership with Amber Group marks a pivotal moment in our journey-one driven by a shared vision to unlock powerful synergies and scale the business to new heights. By joining forces, we aim to accelerate growth, enhance capabilities, and create lasting value for all stakeholders - our team, partners, and customers alike. We remain fully committed to the company's future and are excited to work alongside our new partners as we enter this transformative phase together".

Shares of Amber Enterprises India Limited was last trading in BSE at Rs. 6845.05 as compared to the previous close of Rs. 6808.25. The total number of shares traded during the day was 14397 in over 2404 trades.

The stock hit an intraday high of Rs. 6948.70 and intraday low of 6806.65. The net turnover during the day was Rs. 99000904.00.

Source : Equity Bulls

Keywords

AmberEnterprisesIndia INE371P01015 ConsumerElectronics ILJINElectronicsIndia Agreement MajorityStakeAcquisition PowerOneMicroSystems