Avalon Technologies’ board has approved the proposal to invest in Zepco Technologies (Zepco), subject to compliance with the applicable laws, statutory approvals, consents and permissions as may be required. The company and Zepco have proposed a collaboration that includes a financial investment by the company and a business partnership to utilize Zepco’s technology and design expertise. The collaboration will combine company’s experience with Zepco’s capabilities to explore new opportunities, develop manufacturing capabilities, and build customer relationships.
The company has proposed to invest in Zepco by subscribing to Equity Shares and Compulsorily Convertible Preference Shares (CCPS) at a price of Rs 306.55 per security, inclusive of premium, with a face value of Rs 10. Post investment, the company shall hold 4.05% of the fully diluted paid up capital of Zepco.
Avalon Technologies is one of the leading fully integrated Electronic Manufacturing Services (EMS) companies with end-to-end operations in delivering box build solutions in India in terms of revenue in Fiscal 2022, with a focus on high value precision engineered products.
