Mumbai, Aug 19: Jubilant Ingrevia Limited announced that it has entered into a binding agreement with Zettaone Technologies India Pvt Ltd. for the acquisition of a 40% strategic stake for INR 189.2 crore. Following completion of the proposed acquisition, Zettaone Technologies will become an associate company of Jubilant Ingrevia Limited.
Zettaone Technologies, co-founded by Harikrishnan, Sureshkumar, Prabu and Arunkumar, is an electronics design and manufacturing platform with integrated capabilities in electronics/semicon industry. From R&D, Design and Prototyping, Manufacturing, Assembly and Box Build, the company delivers engineering excellence for Aerospace, Defence, Semi-conductor, Automotive, Medical and Industrial applications.
Commenting on the acquisition, Shyam S Bhartia, Chairman, Jubilant Ingrevia Limited and Hari S Bhartia, Co-Chairman & Whole-Time Director, Jubilant Ingrevia Limited 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 semi-conductor space, leading to long-term and sustainable value creation”.
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.
Commenting on the acquisition, Deepak Jain, Chief Executive Officer and Managing Director, Jubilant Ingrevia Limited said,
“We are continuously working towards advancing our strategic priorities and this acquisition is another milestone in our Pinnacle journey. We have already been expanding into high-precision semiconductor chemicals through our CDMO business and have made a great progress in last two years to establish our 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”
Harikrishnan Gopal, CEO of Zettaone Technologies Pvt. Ltd. said,
“Over the years, our team has built lasting relationships through consistency, quality, and a commitment to solving complex engineering challenges. We are happy to be a part of the Jubilant Bhartia Group and this development will reinforce our position as a trusted technology partner for mission-critical electronics solutions in aerospace, defence, semi-conductor, auto, medical and industrial spaces.”
This acquisition will allow the Company to capitalize 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.