AVI Polymers Limited on Thursday announced that its board has approved a proposal to acquire a 90 percent stake in JVTR Consultants Private Limited through a share swap arrangement on a preferential issue basis.
In a filing submitted to the BSE, the company said the proposed transaction carries an indicative valuation of Rs 500 crore and is part of its broader strategy to expand into the technology sector.
According to the filing, the issuance of equity shares through the share swap route is intended specifically to facilitate the acquisition.
The proposed deal is subject to several conditions, including completion of due diligence, finalisation of definitive agreements, shareholder approval, and other regulatory clearances, wherever applicable. AVI Polymers also informed the exchange that its board has approved amendments to the company’s Memorandum of Association (MOA) to widen its business scope in line with its planned transition into technology-focused operations.
The proposed additions to the company’s business objects include information technology services, software development, system integration, digital platforms, and related technology activities. These amendments will also require shareholder approval.
The company said the decisions were taken during the board meeting held on Thursday. AVI Polymers had earlier indicated plans to diversify into technology-driven sectors through subsidiaries operating in agritech and healthtech businesses.
Separately, the company had previously informed exchanges that its board would meet on May 7, 2026, to consider raising nearly Rs 500 crore through multiple routes, including a Qualified Institutional Placement (QIP), preferential issue, private placement, or a combination of permissible methods.
AVI Polymers currently operates in polymer products, speciality chemicals, agriculture trading, and technology-driven solutions.
