Jubilant Ingrevia Limited has entered into a binding agreement with Zettaone Technologies India Pvt Ltd to acquire a 40% strategic stake for ₹189.2 crore. Following completion of the transaction, Zettaone Technologies will become an associate company of Jubilant Ingrevia.
Zettaone Technologies is an electronics design and manufacturing platform with capabilities spanning research and development, product design, prototyping, manufacturing, assembly and box-build operations. The company serves customers across aerospace, defence, semiconductors, automotive, medical and industrial sectors.
The proposed investment is part of Jubilant Ingrevia’s Pinnacle growth strategy and will strengthen its plans to expand into the Electronics Development and Manufacturing Services (EDMS) sector. The company expects the combination of its chemical and CDMO capabilities with Zettaone’s electronics engineering expertise to create an integrated offering for customers across the electronics and semiconductor value chain.
Shyam S. Bhartia, Chairman, and Hari S. Bhartia, Co-Chairman and Whole-Time Director, Jubilant Ingrevia Limited, said the proposed investment would provide a strong platform for the company’s entry into the EDMS space and support long-term value creation.
Deepak Jain, Chief Executive Officer and Managing Director, Jubilant Ingrevia Limited, said the transaction represents another step in the company’s Pinnacle strategy. He added that Jubilant Ingrevia has been expanding its capabilities in high-precision semiconductor chemicals through its CDMO business and that Zettaone’s expertise in high-speed and high-power PCB design and manufacturing would strengthen its electronics and semiconductor offering.
The acquisition is planned in two tranches. The first tranche is expected to close by November 2026, while the second tranche is expected to be completed by September 2027. Harikrishnan Gopal, CEO of Zettaone Technologies, said joining the Jubilant Bhartia Group would strengthen the company’s position as a technology partner for mission-critical electronics. He added that Zettaone’s focus on quality and engineering solutions has helped it build long-term relationships with customers across multiple industries.
Zettaone Technologies has developed capabilities across hardware and embedded software design, product architecture, prototype development, manufacturing and lifecycle support. The company combines semiconductor technologies, AI-enabled engineering and manufacturing capabilities to help customers develop and commercialise complex electronic products. The acquisition will also enable Jubilant Ingrevia to build on its existing customer relationships and manufacturing expertise in the CDMO sector while expanding its presence across electronics and semiconductors.
Jubilant Ingrevia is a global specialty chemicals and CDMO company serving pharmaceutical, nutrition, agrochemical, consumer, semiconductor and industrial customers. The company has a portfolio of more than 130 products and over 45 years of experience in the chemicals industry. It operates more than 50 plants across six manufacturing facilities in India and employs over 2,300 people. Its three R&D centres have around 150 scientists working on research and product development.
