Jubilant Ingrevia pays INR 189 crore for 40% of electronics maker Zettaone
The specialty chemicals company is buying into electronics manufacturing, valuing Zettaone at about INR 473 crore on the stake purchased. Neither side disclosed Zettaone's revenue, so the multiple paid is unknown.
Specialty chemicals maker Jubilant Ingrevia will pay INR 189.2 crore for a 40% stake in Zettaone Technologies India, an electronics design and manufacturing firm; a move that takes the Jubilant Bhartia group company from supplying chemicals to the semiconductor industry to building electronics for it.
The binding agreement values Zettaone at roughly INR 473 crore on the stake purchased. Neither company disclosed Zettaone's revenue or profit, so the multiple paid cannot be assessed.
The deal will close in two tranches, the first by November 2026 and the second by September 2027, after which Zettaone becomes an associate company of Jubilant Ingrevia.
Zettaone, co-founded around two decades ago by Harikrishnan Gopal, Sureshkumar, Prabu and Arunkumar, covers R&D, design, prototyping, manufacturing and box build for aerospace, defence, semiconductor, automotive, medical and industrial customers. Jubilant Ingrevia said Zettaone's expertise in high-speed and high-power PCB design would anchor its electronics business.
The purchase sits within a wider Indian push into electronics manufacturing, where domestic value addition remains concentrated in assembly rather than design. Jubilant Ingrevia has been expanding into semiconductor chemicals through its CDMO business over the past two years.
Chairman Shyam S Bhartia and Co-Chairman Hari S Bhartia said the investment aligns with the company's Pinnacle growth strategy and gives it a platform in electronics development and manufacturing services.
Jubilant Ingrevia runs six manufacturing facilities in India with more than 2,300 employees and over 130 products, serving pharmaceutical, nutrition, agrochemical and semiconductor customers.
