Amber Enterprises India Limited to enter into the definitive agreements for acquiring eighty percent (80%) stake upfront in the equity share capital of Sidwal Refrigeration Industries Private Limited (Sidwal), which will include in it, the business of Sidwal Technologies. Acquisition in Sidwal is expected to be completed on or before 30 April 2019, subject to satisfaction of conditions precedent.

This acquisition will strengthen Amber's leadership and market presence in the air conditioner space in India and it will create a platform providing unmatchable, high quality and price competitive product offering for mobile applications, railways, metro, bus, telecom and defence applications.

Sidwal is a private limited company incorporated under the provisions of Companies Act, 1956 having its Registered Office at 108A Madangir, Behind Pushp Vihar, DDA Local Shopping Complex, New Delhi 110062. 

Sidwal is engaged in the business of Heating, Ventilation, Air Conditioning and Refrigeration equipment for mobile applications such as railway coaches, metro coaches, buses, telecom, commercial refrigeration and related components. Sidwal has manufacturing facilities located in Faridabad, Haryana and Kala Amb, Himachal Pradesh