Amber Enterprises subsidiary acquires remaining 40% stake in Power-One through share swap.
Amber Enterprises has bought out its remaining minority partners in Power-One. IL JIN Electronics, a key subsidiary, picked up the final 40% stake through a share swap. The deal makes Power-One Micro Systems Private Limited a wholly-owned unit of IL JIN. This also means that by extension, Power One will now be an immediate step-down subsidiary of Amber Enterprises.
The announcement came on November 3, 2026. It’s the final step after the Share Swap Agreement was signed back on October 18. That earlier date is when the terms were actually set, with supporting documents filed as Annexure A and B to the initial intimation.
Here’s how the numbers shook out. IL JIN took over 1,75,680 equity shares from four specific sellers: Ramanna Rajesh Mayasandra, Harsha Venkatesh, Dwaith Advisory Private Limited, and Doddabidere Honappa Veena. The calculation was based on a fully diluted basis. But no money changed hands. Instead of cash, IL JIN issued 1,76,000 Compulsorily Convertible Preference Shares A3 (CCPS A3) to those four parties.
Amber Enterprises had already flagged the intent back in October. This November filing just confirms the transaction is complete, pushing IL JIN’s holding to a clean 100%.
