Jubilant Ingrevia to acquire 40pc stake in Zettaone Technologies for Rs 189.2 cr

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New Delhi, Specialty chemicals and contract development and manufacturing organisation Jubilant Ingrevia Ltd on Tuesday said it will acquire a 40 per cent stake in Zettaone Technologies India Pvt Ltd for Rs 189.2 crore.

The company has entered into a binding agreement with Zettaone Technologies India Pvt Ltd for the proposed acquisition, Jubilant Ingrevia Ltd said in a regulatory filing.


Zettaone Technologies, co-founded by Harikrishnan, Sureshkumar, Prabu and Arunkumar, is an electronics design and manufacturing platform with integrated capabilities in electronics/semicon industry.

This acquisition will allow the company to capitalise on its proven manufacturing and customer-centric capabilities in CDMO space, while further strengthening its engagement with customers across the electronics and semiconductor value chain, it added.

After the completion of the proposed acquisition, Zettaone Technologies will become an associate company of Jubilant Ingrevia Ltd, it added.

The acquisition is proposed to be completed in two tranches, with the first tranche expected to close by November 2026 and the second tranche is expected to close by September 2027, the filing said.

Commenting on the acquisition, in a joint statement Shyam S Bhartia, Chairman, Jubilant Ingrevia Ltd and Hari S Bhartia, CoChairman & Whole-Time Director, Jubilant Ingrevia Ltd said, "The proposed investment is aligned with the company's 'Pinnacle growth strategy' and provides a strong platform for its play in electronics development and manufacturing services (EDMS) space."

The transaction will enable the company to deliver an integrated value proposition in electronics and semiconductor space, leading to long-term and sustainable value creation, they added.

Jubilant Ingrevia Ltd CEO & MD Deepak Jain said the company has already been expanding into high-precision semiconductor chemicals through its CDMO business and have made great progress in the last two years to establish its credibility with several global customers.

"The expertise in high-speed and high-power PCB design and manufacturing of Zettaone Technologies will further anchor our growing electronics/semiconductor business with an integrated value proposition to our customers," Jain added.

From R&D, design and prototyping, manufacturing, assembly and box build, Zettaone Technologies has a presence in aerospace, defence, semiconductor, automotive, medical and industrial applications.

Zettaone Technologies CEO Harikrishnan Gopal this development will reinforce the company's "position as a trusted technology partner for mission-critical electronics solutions in aerospace, defence, semiconductor, auto, medical and industrial spaces". PTI