Amber Enterprises acquires 73% stake in Pasio India Pvt. Ltd.
- ByStartupStory | December 3, 2021
Amber Enterprises India enters into a definitive agreement and acquires 73% stake in the equity share capital of Pasio India Pvt. Ltd. In accordance with the acquisition of 73% stake, Pasio India has essentially become a subsidiary of Amber Enterprises.
This comes after Amber Enterprise bought a 10.94% stake in Sricity Electronics Manufacturing Cluster a couple of weeks ago.
The Business is being acquired by Pasio from Pee Aar, which is one of the leading cross flow fan manufacturers in India along with plastic components for various industries. Pasio is known for its business in cross flow fans and its plastic parts, fans and fan guard for outdoor units of room air conditioners, plastic parts for water dispenser and refrigeration applications (other than automobile industry) and plastic parts for seats of trucks, tractors and buses (Business).
Whereas, Amber Enterprises India Ltd is a prominent solution provider for the Air conditioner OEM/ODM Industry in India. It has a dominant presence in RACs complete unit and deals in major RAC components with 10 manufacturing facilities across India focusing on different product segments.
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