Amber Enterprises India Limited executed a definitive agreement to acquire 50% stake in Resojet Private Limited from Lcgc Resolute Appliances Llp for INR 350 million.

Amber Enterprises India Limited (NSEI:AMBER) executed a definitive agreement to acquire 50% stake in Resojet Private Limited from Lcgc Resolute Appliances Llp for INR 350 million on March 21, 2024. Upon completion, Resojet will operate as a 50:50 joint venture company between Amber Enterprises and Lcgc Resolute. The acquisition is not subject to governmental or regulatory approvals.

The transaction is estimated to be completed on or before May 31, 2024.