Jubilant Ingrevia Ltd, a specialty chemicals manufacturer, has entered into a binding agreement to acquire a 40% strategic stake in Zettaone Technologies India Pvt Ltd for ₹189 crore, marking its entry into the electronics development and manufacturing services space.
The acquisition will be completed in two tranches. The first tranche is expected to close by November 2026, while the second is expected to close by September 2027.
Zettaone to become associate company
Following completion of the transaction, Zettaone Technologies will become an associate company of Jubilant Ingrevia.
Co-founded by Harikrishnan, Sureshkumar, Prabu and Arunkumar, Zettaone is an electronics design and manufacturing platform with integrated capabilities across the electronics and semiconductor industries.
Focus on high-value electronics
The company provides R&D, design, prototyping, manufacturing, assembly and box-build services 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 space,” said Jubilant Ingrevia Chairman Shyam S Bhartia and Co-Chairman Hari S Bhartia.
Strengthening semiconductor capabilities
Jubilant Ingrevia CEO and Managing Director Deepak Jain said Zettaone’s expertise in high-speed and high-power PCB design and manufacturing would strengthen the company’s electronics and semiconductor business.
Zettaone CEO Harikrishnan Gopal said the investment would reinforce the company’s position as a technology partner for mission-critical electronics solutions across multiple industries.
Integrated value proposition
The acquisition will enable Jubilant Ingrevia to leverage Zettaone’s manufacturing and customer capabilities while expanding its engagement across the electronics and semiconductor value chain.
The transaction is expected to support the company’s Pinnacle growth strategy and create an integrated offering for customers in high-value electronics and semiconductor segments.