Avi Polymers to acquire 90 pc stake in JVTR Consultants at Rs 500 cr valuation

The board of AVI Polymers has approved the acquisition of a 90 per cent stake in JVTR Consultants Private Limited through a share swap arrangement at an indicative valuation of Rs.500 crore, the statement said.

Avi Polymers Ltd on Thursday said its board has approved the acquisition of a 90 per cent stake in JVTR Consultants Pvt Ltd through a share swap arrangement at an indicative valuation of Rs 500 crore. The proposed acquisition marks a strategic step towards expanding the company's presence in the technology and digital services sector, the polymer manufacturer said in a statement. ''The board of AVI Polymers has approved the acquisition of a 90 per cent stake in JVTR Consultants Private Limited through a share swap arrangement at an indicative valuation of Rs.500 crore,'' the statement said. The company plans to focus on areas such as information technology services, software development, system integration, digital platforms and related technology solutions, Avi Polymers Managing Director Chintan Yashwantbhai Patel said. ''We see strong opportunities in technology-driven businesses and believe this strategic expansion will help us build a more diversified and future-ready business,'' Patel said further. The polymer and speciality chemical manufacturer recently announced its entry into healthcare and agri segments with the rollout of its wholly-owned AI-led subsidiaries, including KrishiBuddy and AVI Health AI.