Amber Group Acquires Shogini Technoarts to Strengthen PCB Capabilities

Amber Group, through its subsidiary IL JIN Electronics India, has acquired a majority stake in Pune-based Shogini Technoarts, a printed circuit board (PCB) manufacturer. The deal, announced on November 14, 2025, strengthens Amber’s in-house PCB production capabilities and reduces reliance on external suppliers.

Key highlights of the acquisition

• Structure of the deal: Amber Enterprises India Limited executed the acquisition via its material subsidiary IL JIN Electronics (India) Pvt Ltd. Shogini Technoarts will become a subsidiary of IL JIN, and therefore a step-down subsidiary of Amber Enterprises.
• About Shogini Technoarts: Founded in 1982 in Pune. Specializes in single-sided, double-sided, multilayered, metal, and flexible PCBs. Serves industries including automotive, defense, medical electronics, and consumer electronics.
• Strategic rationale: Backward integration to reduce dependence on external vendors; expanded portfolio access to advanced PCB types and design/manufacturing innovation; market reach into new customer segments.
• Deal value: Financial details were not disclosed in the regulatory filings.

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Why this matters

• Supply chain resilience: Amber strengthens in-house electronics manufacturing for HVAC and consumer electronics.
• Policy alignment: Supports India’s Make in India initiative and reduces import dependency.
• Scale for Shogini: Gains capital, scale, and access to Amber’s global clientele.

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Strategic outlook

• Leverage expertise: Amber to use Shogini’s PCB capabilities for marquee customers.
• Competitive positioning: Better equipped to compete in smart appliances, EV components, and medical electronics.
• Long-term play: Secures supply chain control and may improve margins in consumer electronics and HVAC.

📊 Comparative Table: Shogini vs Dixon vs Flex

Attribute	Shogini Technoarts	Dixon Technologies	Flex (India)
Founded	1982, Pune	1993, Noida	1969 (global), India operations since 1990s
Core Focus	Printed Circuit Boards (PCBs) — single, double, multilayer, flexible, metal-clad	Electronics Manufacturing Services (EMS) — consumer electronics, appliances, lighting, mobile devices	Global EMS & design services — PCBs, semiconductors, IoT, medical devices
Scale	Mid-sized, niche PCB specialist	India’s largest EMS