Board approves wholly owned subsidiary; Zettaone 40% stake to be acquired through the new entity

Board of Directors has approved the incorporation of a wholly owned subsidiary, Jubilant Advanced Electronics Limited.

Thu 1 Oct 2026

Subscription amount

up to Rs.10,00,00,000/-

Equity shares subscribed

up to 1,00,00,000 equity shares of face value of Rs 10/- each at par value, in cash

Stake in Zettaone

40% strategic equity stake in Zettaone Technologies India Private Limited

Holding in new subsidiary

100% subscription to the initial paid-up share capital, in cash

Registered office

Gurugram, Haryana, India

Jubilant Ingrevia has disclosed a board decision that does two things at once: it creates a new wholly owned subsidiary, and it changes the route through which the company will hold its planned 40% strategic equity stake in Zettaone Technologies India Private Limited.

What was approved

• Incorporation of a wholly owned subsidiary named Jubilant Advanced Electronics Limited
• The proposed acquisition of the 40% strategic equity stake in Zettaone to be undertaken through this new subsidiary instead of directly by the company
• 100% subscription to the initial paid-up share capital of the new subsidiary, in cash

The registered office of the proposed company will be situated in Gurugram, Haryana, India. The incorporation is under process, and the update states that no governmental or regulatory approvals are required for the incorporation.

The money involved

• Cost of subscription: up to Rs.10,00,00,000/-
• That is up to 1,00,00,000 equity shares of face value of Rs 10/- each at par value
• Allotment and holding: 100% subscription to the initial paid-up share capital, in cash

What the new entity will do

• Industry: Electronic Products and Semi-Conductor
• Business: manufacturing of Electronic Products and Semi-Conductor
• The proposed company is being incorporated as a wholly owned subsidiary of the listed entity

Background

This disclosure is in continuation of the company's disclosure dated August 18, 2026, regarding the execution of a Binding Term Sheet with Zettaone Technologies India Private Limited for the acquisition of a 40% strategic equity stake in Zettaone. The company states the proposed investment is aligned with its Pinnacle Growth Strategy and is expected to provide a platform for strengthening its presence in the Electronics Development and Manufacturing Services (EDMS) sector, alongside its semicon/electronics chemicals business.

The stated reasons for routing the investment through the new subsidiary are greater operational flexibility and strategic focus, and creating a focused vehicle for pursuing opportunities in the EDMS and allied electronics and semiconductor segments, such as high purity semicon/electronics materials. The company says the structure is intended to strengthen its presence across the electronics and semiconductor value chain and drive long-term value creation.

Reading it in simple terms

• The company is not announcing the completion of an acquisition; it is setting up the entity through which a previously announced proposed investment is to be undertaken
• The new subsidiary would be 100% owned by the company
• The 40% stake in Zettaone is described as a proposed acquisition, now to be made through the new subsidiary rather than directly by the company
• The new subsidiary's stated line of business sits in the same electronics and semiconductor space the company is targeting
• The company has characterised the event as the date and time of occurrence being October 01, 2026 at 07:25 PM (IST)

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