India's Jubilant Ingrevia to Acquire 40% Stake in Zettaone for INR 1.892 Billion, Completion Expected in 2026-2027

en.Wedoany.com Reported - Jubilant Ingrevia will acquire a strategic 40% stake in Zettaone Technologies India for INR 1.892 billion (INR 189.2 crore), thereby entering the Electronics Development and Manufacturing Services (EDMS) sector. The company has signed a binding agreement for this acquisition, and upon completion of the transaction, Zettaone Technologies will become an associate company of Jubilant Ingrevia.

Zettaone Technologies, co-founded by Harikrishnan, Sureshkumar, Prabu, and Arunkumar, operates an integrated electronic design and manufacturing platform catering to the electronics and semiconductor industries, with capabilities spanning R&D, design and prototyping, manufacturing, assembly, and box build.

Shyam S Bhartia, Chairman of Jubilant Ingrevia Limited, and Hari S Bhartia, Co-Chairman and Whole-time Director, stated that this investment aligns with the company's Pinnacle growth strategy and provides a strong platform for its development in the Electronics Development and Manufacturing Services sector. Upon completion of the transaction, the company will be able to offer an integrated value proposition in the electronics and semiconductor domains, thereby enabling long-term sustainable value creation.

The acquisition will be completed in two tranches. The first tranche is expected to be completed by November 2026, and the second tranche is expected to be completed by September 2027.

Deepak Jain, Chief Executive Officer and Managing Director of Jubilant Ingrevia Limited, stated that the company has already expanded into high-precision semiconductor chemicals through its Contract Development and Manufacturing Organization (CDMO) business, achieving significant progress over the past two years and building credibility with multiple global customers. Zettaone Technologies' expertise in high-speed and high-power PCB design and manufacturing will further strengthen the company's growing electronics and semiconductor business through an integrated value proposition.

The transaction builds on Jubilant Ingrevia's existing CDMO business footprint while complementing Zettaone's specialized capabilities in high-speed and high-power PCB design and manufacturing. Harikrishnan Gopal, Chief Executive Officer of Zettaone Technologies, stated that his team has built enduring relationships over the years through consistency, quality, and commitment to solving complex engineering challenges. Upon joining the Jubilant Bhartia Group, the company will consolidate its position as a technology partner for mission-critical electronic solutions in the aerospace, defense, semiconductor, automotive, medical, and industrial sectors.

The acquisition is expected to deepen Jubilant Ingrevia's participation across the entire electronics and semiconductor value chain, combining its CDMO and manufacturing capabilities with Zettaone's electronic engineering and manufacturing expertise.