Amber Enterprises' subsidiary IL JIN to acquire 19.92% stake in MoMagic for ₹25 Crore
Amber Enterprises' subsidiary, IL JIN, will acquire 19.92% of MoMagic for ₹25 Crore. The acquisition aims to strengthen IL JIN's presence in the IoT domain. The deal involves two closings, with the first expected within 30 days and the second by June 30, 2026.
The acquisition represents a strategic investment for a material subsidiary, aiming to enhance expertise and market presence in a growing sector. While significant for the subsidiary's strategy, its immediate financial impact on the consolidated entity is moderate.
The acquisition is a strategic move for IL JIN to enter the growing IoT domain, indicating a positive outlook for future growth and market expansion.
Amber Enterprises India Limited announced that its material subsidiary, IL JIN Electronics (India) Private Limited ("IL JIN"), has executed definitive transaction agreements for the acquisition of a stake in MoM agic Wireless Private Limited ("MoMagic"). The agreements, including a Shareholders’ Agreement and a Share Subscription Agreement, were signed on 14 February 2026.
Under these agreements, IL JIN will subscribe to 51,52,938 equity shares of MoMagic, representing 19.92% of its equity share capital, for a total purchase consideration of ₹25 Crore, payable in one or more tranches. MoMagic, incorporated in March 2025, is a Delhi-based company engaged in designing, developing, and supplying wireless communication modules such as Cellular, BLE, and Wi-Fi.
The acquisition is strategically aligned with IL JIN's objective to enter the Internet of Things (IoT) domain and enhance its expertise in module design and development. This move is expected to provide IL JIN access to specialized knowledge and innovative technologies, strengthening its presence in the IoT ecosystem and creating new growth opportunities. IL JIN will have the right to nominate one non-executive director and one observer to MoMagic's board, provided it maintains a certain shareholding.
The acquisition is planned to be completed in two closings. The first closing, involving the subscription of 41,22,351 equity shares (16.60% stake), is expected within 30 days from the execution date. The second closing, for the remaining 10,30,587 equity shares (3.32% stake), is scheduled on or before 30 June 2026. The consideration for the first closing is ₹20 Crore, and ₹5 Crore for the second closing. No governmental or regulatory approvals are required for this acquisition.
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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.