Jubilant Ingrevia to acquire 40% stake in Zettaone

Jubilant Ingrevia, a company headquartered in Noida, Uttar Pradesh (India), has announced that it has entered into a binding agreement with Zettaone Technologies India Pvt Ltd. for the acquisition of a 40% strategic stake of about INR 1.9 billion (nearly USD 20 million). Following completion of the proposed acquisition, Zettaone Technologies will become an associate company of Jubilant Ingrevia Limited, according to a press release.

Zettaone is an electronics design and manufacturing platform with integrated capabilities in the electronics/semicon industry. From R&D, design and prototyping to manufacturing, assembly and box build, the company delivers engineering solutions for aerospace, defence, semiconductor, automotive, medical and industrial applications.

“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,” said Shyam S Bhartia, Chairman, Jubilant Ingrevia Limited and Hari S Bhartia, Co-Chairman & Whole-Time Director, Jubilant Ingrevia Limited. “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”.

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 press release said.

“We have already been expanding into high-precision semiconductor chemicals through our CDMO business and have made great progress in the last two years to establish our credibility with several global customers,” said Deepak Jain, Chief Executive Officer and Managing Director, Jubilant Ingrevia Limited. “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”

“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, semiconductor, auto, medical and industrial spaces,” said Harikrishnan Gopal, CEO of Zettaone Technologies.