Noida-based speciality chemicals maker Jubilant Ingrevia will pick up a 40% strategic stake in electronics manufacturing firm Zettaone Technologies India, the company said in a stock exchange filing. The move marks the CDMO major’s entry into electronics design and manufacturing services, a space adjacent to its existing semiconductor chemicals business.
Jubilant Ingrevia-Zettaone deal: 40% stake, cash payment and timeline
The acquisition will be funded through cash consideration and completed in two tranches. The first tranche is expected to close by November 2026, with the second following by September 2027.
Zettaone, founded roughly two decades ago by Harikrishnan, Sureshkumar, Prabu and Arunkumar, works across R&D, design, prototyping, manufacturing, assembly and box build for clients in aerospace, defence, semiconductors, automotive, medical devices and industrial equipment. Its revenue has grown from Rs 51.1 crore in FY24 to Rs 98.1 crore in FY26, as per figures shared in the filing.
Why Jubilant Ingrevia is entering electronics manufacturing
Jubilant Ingrevia framed the acquisition as part of its “Pinnacle” growth strategy, aimed at building an integrated presence in the electronics and semiconductor value chain.
“The proposed investment is aligned with the Company’s Pinnacle growth strategy and provides a strong platform for its play in the Electronics Development and Manufacturing Services space,” Shyam S Bhartia, Chairman, and Hari S Bhartia, Co-Chairman and Whole-Time Director, said in a joint statement.
“We are continuously working towards advancing our strategic priorities and this acquisition is another milestone in our Pinnacle journey. We have already been expanding into high-precision semiconductor chemicals through our CDMO business and have made a great progress in last two years to establish our credibility with several global customers. 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,” Deepak Jain, CEO and Managing Director of Jubilant Ingrevia, said.
“Over the years, our team has built lasting relationships through consistency, quality, and a commitment to solving complex engineering challenges. 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.” Harikrishnan Gopal, CEO of Zettaone, said.
Jubilant Ingrevia and Zettaone Technologies: What the companies do
Jubilant Ingrevia has been in the chemicals business for more than 45 years and counts itself among the top global players in pyridine and picolines, pyridine derivatives, acetic anhydride and Vitamin B3. As per the company, it runs over 50 plants across six manufacturing facilities in India, employs more than 2,300 people, and operates three R&D centres with around 150 scientists. The company serves pharmaceutical, nutrition, agrochemical, consumer and industrial customers across the US, Europe, Japan, the Middle East and Southeast Asia, besides the domestic market.
Zettaone describes itself as a privately held deep-tech company offering end-to-end product development, from concept and architecture to hardware, embedded software design and lifecycle support.
Jubilant Ingrevia share price: Stock performance after Zettaone deal
Jubilant Ingrevia share price has been down 0.24% as of the market opening on August 19, 2026. It has been down a further 1.64% in the past month. However, the company’s share price has been up 3.5% in the past year.