In a strategic move to expand its footprint in the renewable energy and power electronics sector, Amber Enterprises India Limited has announced that its material subsidiary, ILJIN Electronics (India) Private Limited (ILJIN), has entered into definitive agreements to acquire a majority stake in Power-One Micro Systems Private Limited, a Bengaluru-based company renowned for its energy solutions.

The definitive agreements, which include a Share Purchase Agreement (SPA) and a Shareholders’ Agreement (SHA), were executed on 27th June 2025, marking Amber’s foray into the rapidly expanding segment of solar energy, Battery Energy Storage Systems (BESS), UPS systems, and EV charging infrastructure.

This acquisition was officially disclosed by Amber to the BSE and NSE under Regulation 30(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, supported by details under SEBI Circular SEBI/HO/CFD/POD2/CIR/P/0155 dated 11 November 2024.

About Power-One Micro Systems

Incorporated on 30 March 1998, Power-One Micro Systems Private Limited is a key player in power electronics and renewable energy solutions. The company is engaged in manufacturing and delivering a diverse portfolio of products and services including:

• Solar inverters – both on-grid, off-grid, and hybrid variants

• Uninterruptible Power Supply (UPS) systems

• Battery Energy Storage Systems (BESS)

• EV chargers

• Turnkey solar power solutions

• Related power management and energy optimization services

Power-One operates from its registered office located at Peenya Industrial Estate, Bangalore. It has consistently demonstrated strong financial performance over the last three years:

The company’s paid-up capital stands at ₹43.92 lakh, with an authorized share capital of ₹50 lakh.

Details of the Acquisition

ILJIN Electronics has entered into binding agreements with the existing shareholders of Power-One, namely:

• Mr. Ramanna Rajesh Mayasandra

• Mr. Harsha Venkatesh

• Dwaith Advisory Private Limited

• Mrs. Doddabidere Honappa Veena

The Shareholders’ Agreement (SHA) and Share Purchase Agreement (SPA) stipulate that ILJIN will acquire a majority equity stake in Power-One through a cash consideration. The exact valuation and shareholding percentage are to be disclosed post-closure, pending fulfillment of conditions precedent outlined in the definitive agreements.

Strategic Rationale Behind the Acquisition

Amber Enterprises, known for its backward integration capabilities and diversified B2B manufacturing across Consumer Durables, Electronics, and Railway & Defense segments, is positioning itself to enter the fast-growing energy solutions space. This acquisition aligns with the Group’s long-term strategic vision.

Key Benefits and Strategic Synergies Include:

• Entry into solar and power storage segments, complementing Amber’s electronics division

• Expansion into EV infrastructure and BESS, tapping into India’s clean energy transition

• Leverage Amber and ILJIN’s capabilities in sheet metal, PCB manufacturing, high-volume electronics assembly, and plastic injection molding

• Enable Power-One to scale up production and enhance market competitiveness with Amber’s industrial backing

This acquisition allows Amber to broaden its offerings while addressing India’s growing demand for reliable energy solutions in residential, commercial, and industrial segments.

Regulatory and Financial Highlights

• No regulatory or governmental approvals are required for this acquisition, simplifying the transaction process.

• The transaction will be completed post-closing, after satisfying all conditions precedent as per the SPA and SHA.

• The acquisition is being executed at arm’s length and Power-One is not a related party to either ILJIN or Amber.

The SHA also grants ILJIN the right to nominate three directors to the Board of Power-One, giving them effective management control post-acquisition.

Disclosure and Compliance

Amber has confirmed that this transaction does not constitute a related party transaction and that the acquisition is being undertaken with independent third-party sellers.

Moreover, ILJIN and Amber have no existing shareholding in Power-One prior to the agreement, and the transaction complies fully with SEBI LODR Regulations and associated disclosure standards.

Conclusion and Outlook

Amber Enterprises, through ILJIN, is poised to significantly enhance its electronics segment and build a presence in India’s energy transition ecosystem. The acquisition of Power-One gives the group a technological edge and access to a rapidly expanding customer base that spans solar energy, battery systems, UPS, and EV charging infrastructure.

With the Indian government promoting renewable energy adoption, the market for solar inverters, BESS, and EV chargers is expected to grow exponentially. Power-One, supported by Amber’s industrial and financial strength, is well-positioned to capitalize on this demand.

This acquisition reflects Amber’s strategic shift towards next-generation energy technologies, ensuring its relevance and leadership in both the traditional and emerging industrial segments.

The market and stakeholders will be closely watching how Amber and ILJIN integrate Power-One and scale operations, which could lead to further value creation and market expansion in the coming quarters.

Amber Enterprises has assured that further updates will be disclosed as per regulatory norms and will remain available on the company’s official website.

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