Archive · 15 Nov 2025
Amber Enterprises Acquires Majority Stake in PCB Manufacturer Shogini Technoarts
Imagine a company that makes parts for things like air conditioners.
This company wants to become even better at making all the different kinds of electronic boards, called PCBs, that go inside various devices.
So, it's buying a bigger piece of another company that is already very good at making these PCBs.
This new company, Shogini, makes many types of PCBs for important things like cars, defense equipment, and phones.
By owning more of Shogini, the first company will rely less on outside companies for these crucial parts.
It's like the company is becoming a one-stop shop for electronics manufacturing.
They believe this will help them grow faster and make more advanced products, supporting the idea of making more things within India.
Amber Enterprises, via its subsidiary IL JIN Electronics, is acquiring a majority stake in Shogini Technoarts, a Pune-based PCB manufacturer.
Shogini Technoarts specializes in producing a wide range of PCBs for sectors including automotive, defense, medical electronics, and telecommunications.
The acquisition aims to boost Amber's in-house PCB production, decrease reliance on external suppliers, and enhance its standing as a full-stack EMS company.
Shogini reported a turnover of Rs 33,250 lakh for FY2023-24, with an estimated Rs 39,074 lakh for FY2024-25.
This move is intended to strengthen Amber's capabilities, align with the 'Aatmanirbhar Bharat' initiative, and unlock business synergies for accelerated growth.
- Who
- Amber Enterprises India Limited, through its subsidiary IL JIN Electronics, and Shogini Technoarts Private Limited
- What
- Amber Enterprises is acquiring a majority stake in Shogini Technoarts, a PCB manufacturer, to enhance its in-house production capabilities and reduce external supplier reliance.
- When
- Definitive agreements signed on November 14.
- Where
- Shogini Technoarts is based in Pune, India.
- Why
- To strengthen Amber's PCB vertical, become a full-stack EMS company, reduce import dependency, and leverage synergies for accelerated growth.
Amber Enterprises Management
Market/Analyst View
Strategic Expansion and Integration
Amber Enterprises Management
The acquisition of Shogini Technoarts strengthens Amber's in-house PCB production, reduces reliance on external suppliers, and enhances its capabilities as a full-stack, backward-integrated EMS company, aligning with the 'Aatmanirbhar Bharat' initiative.
Market/Analyst View
While the acquisition is presented as a strategic move, the financial details, including the exact cost, are not yet disclosed, and the market's reaction to the valuation and future integration success remains to be seen.
Growth and Synergies
Amber Enterprises Management
Amber Group and Shogini Technoarts share a vision to harness synergies, scale the business, accelerate growth, and enhance value for customers, positioning Amber to become a leading PCB manufacturer in India.
Market/Analyst View
The effectiveness of these planned synergies and the speed of growth acceleration will be crucial, especially given Amber's existing diversification efforts and the company's history of significant investments.
- Acquiring Company
- Amber Enterprises India Limited (via IL JIN Electronics)
- Target Company
- Shogini Technoarts Private Limited
- Acquisition Type
- Majority Stake
- Shogini's Specialization
- Printed Circuit Boards (PCBs) - single-sided, double-sided, multilayered, metal, flexible
- Shogini's Client Sectors
- Automotive, defense, medical electronics, telecommunications
- Shogini's Turnover (FY2023-24)
- Rs 33,250 lakh
- Shogini's Turnover (FY2024-25 est.)
- Rs 39,074 lakh
- Deal Announcement Date
- November 14