Amber Group Acquires Shogini Technoarts To Expand PCB Operations

Amber Enterprises India Ltd. on Monday completed the acquisition of a majority stake in Pune-based Shogini Technoarts Pvt. Ltd. for Rs 506 crore. Shogini has become a subsidiary of IL JIN Electronics (India) Pvt., and a step-down subsidiary of the Amber Group.

Shogini manufactures various types of printed circuit boards including single sided, double sided, multilayered, metal and flexible PCBs catering to a wide range of applications. The company provides PCB solutions across diverse applications such as automotive, defense, medical electronics, industrial electronics, power electronics, process control, telecommunication, computer peripheral, LED lighting etc.

A PCB is an electronic assembly that uses copper conductors to create electrical connections between components. These are used in most electronic devices, like refrigerators and ACs. Amber designs and manufactures refrigeration and air conditioning products for indoor and outdoor units.

Amber Enterprises said the deal, which was signed in Novermber, will strengthen capabilities in PCB manufacturing and expand its product portfolio while reducing reliance on external suppliers.

Shogini had a turnover of Rs 390 crore in financial year 2025.

The acquisition comes months after ILJIN Electronics secured investments worth Rs 1,200 crore from four private equity firms to fund organic and inorganic growth of the electronics segment of the company.

Raptor Investments Ltd., Two Infinity Partners, InCred Group and Chryscapital signed definitive agreements with Amber, ILJIN Electronics and Hyun Chul Sim in September.

ILJIN Electronics specialises in high-precision electronics manufacturing services across smart electronics, automotive, consumer durables, telecom, healthcare, industrial, renewable energy, aerospace and defence sectors. It manufactures PCBs along with embedded software and final assembly.

Last year, the Amber Group acquired Tamil Nadu-based PCBs maker Ascent Circuits Pvt.

"Together with Ascent Circuits’ existing facility, the upcoming new facility, and our strategic JV with Korea Circuit, we are laying a strong foundation to emerge as a leading PCB manufacturer in the country, offering comprehensive solution across single sided, double-sided, multilayer, HDI, flex and semi-conductor substrate PCBs," Jasbir Singh,CEO of Amber Group, said.

Shares of Amber Enterprises closed 1.7% lower at Rs 7,071.75 on the BSE, ahead of the announcement, compared to a flat Sensex. The stock has fallen 8% so far this year.