Amber Enterprises' Subsidiary IL JIN Acquires Control of Stelltek Technologies
Amber Enterprises' subsidiary, IL JIN, has acquired control over Stelltek Technologies by securing the right to appoint a majority of its directors. This move makes Stelltek a step-down subsidiary of Amber. Mr. Sudhir Goyal, CFO of Amber, will be appointed as a director on Stelltek's board.
The acquisition of control over a step-down subsidiary is a significant corporate action that could influence the group's overall strategy and operational efficiency in the electronics sector.
The acquisition of control by a subsidiary is a strategic move aimed at strengthening governance and ensuring alignment with the group's long-term business objectives, which is positive for the company.
Amber Enterprises India Limited (Amber) announced a significant development concerning its material subsidiary, IL JIN Electronics (India) Private Limited (IL JIN). On 15 February 2026, IL JIN executed an Amendment Agreement to the Joint Venture Agreement dated 18 September 2023 with Stelltek Technologies Private Limited (Stelltek) and Nexxbase Marketing Private Limited (Noise).
This amendment grants IL JIN the right to nominate and appoint the majority of Directors on the Board of Stelltek. Consequently, IL JIN will exercise control over Stelltek's management and policy decisions, as defined under Section 2(27) of the Companies Act, 2013. Following this, IL JIN is initiating the appointment of Mr. Sudhir Goyal, Chief Financial Officer of Amber, as a Non-Executive Additional Director on Stelltek's Board.
As a result of these rights, Stelltek ceases to be a joint venture of IL JIN and is now considered a subsidiary of IL JIN, making it a step-down subsidiary of Amber. This change affects Stelltek's governance structure but does not involve any change in shareholding or capital structure. Stelltek, incorporated on 26 December 2023, is engaged in manufacturing, assembling, and designing wearables and other smart electronics products. The rationale behind this move is to reinforce effective governance, ensure strategic alignment with group objectives, enhance managerial oversight, and streamline decision-making processes for improved operational efficiency and sustained growth.
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Amber Enterprises India Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Amber Enterprises India Limited. Read the original for the full detail.