Acquisitions7 May 2026, 11:38 am
AVI Polymers to Acquire JVTR Consultants via Share Swap
AI Summary
AVI Polymers Ltd's board has approved the acquisition of a 90% stake in JVTR Consultants Private Limited for an indicative valuation of ₹500 Crore through a share swap mechanism. This will involve issuing equity shares via a preferential issue, subject to due diligence, definitive agreements, shareholder approval, and regulatory approvals. The board also approved expanding the company's Memorandum of Association to include information technology services, software development, and related activities, pending shareholder approval, to align with a strategic shift into the technology sector.
Key Highlights
- AVI Polymers to acquire 90% stake in JVTR Consultants for ₹500 Crore.
- Acquisition will be executed through a share swap mechanism.
- Board approved expanding MOA to include IT services.
- Transaction is subject to shareholder and regulatory approvals.