Amber Enterprises Acquires 10.94 Percent Stake in Sricity EMC

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Companies including Blue Star and Daikin have already signed deals to setup manufacturing at the EMC. The Electronics Manufacturing Cluster (EMC)at Sri City is an exclusive zone for companies involved in electronic R&D, design, manufacturing and assembly operations

Amber Enterprises India has acquires 10.94 percent stake in Sricity EMC. The former paid Rs 60,64,680 to acquire 6,06,468 equity shares at a face value of Rs 10 per share.

“Amber Enterprises India has acquired 10.94 pe cent stake in Sricity Electronics Manufacturing Cluster With reference to the captioned subject, we would like to inform you that as per the notification of Ministry of Electronics and Information Technology (“MEITY”) guidelines for constitution of special purpose vehicle (“SPV”) for implementation of Electronic Manufacturing cluster (“EMC”), the companies/EMC units which buys land/having lease lands in Sri City EMC must hold 51% of the share capital of SPV together with no single company/ EMC unit holding more than 25% shares of SPV the Company, in context of the same, our Company has invested Rs. 60,64,680/- (Rupees Sixty Lakh Sixty-Four Thousand Six Hundred Eighty Only) in Sricity Electronics Manufacturing Cluster Private Limited (“Sricity”) and has been allotted 6,06,468 equity shares at a face value of Rs. 10 per share comprises of 10.94% Share Capital of Sricity,” read Amber Enterprises’ official statement.

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The Electronics Manufacturing Cluster (EMC)at Sri City is an exclusive zone for companies involved in electronic R&D, design, manufacturing and assembly operations. In its first phase, around 100 acres of land is allotted for Greenfield Project consisting of a training center, testing land and R&D centers for the units.

Companies including Blue Star and Daikin have already signed deals to setup manufacturing at the EMC.

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Mukul Yudhveer Singh
Mukul Yudhveer Singh
Mukul Yudhveer Singh is an Editor at EFY. He’s an experienced business journalist who is both an enthusiast and a cynic of technology. Believes in data, as well as hunch-based journalism. He defines journalism as- reporting facts which help the audience take their own decisions, not ones that influence them!

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