AVI Polymers Limited's board approved a proposal to acquire a 90 per cent stake in JVTR Consultants Private through a share swap on a preferential issue basis, as disclosed in an exchange filing. The proposed acquisition carries an indicative valuation of Rs five billion (bn) and forms part of the company's strategic expansion into the technology sector. The board noted that the issuance of equity shares via the share swap route is intended to implement the transaction and that the proposal remains conditional on finalisation of definitive terms, due diligence, execution of agreements, shareholder approval and other regulatory clearances. The board also approved amendments to the Memorandum of Association (MOA) to broaden the company's business objects and facilitate a planned transition into technology-related activities. The newly proposed business areas include information technology services, software development, system integration, digital platforms and allied technology services. These changes are subject to shareholder approval before the expansion can proceed. Executives had earlier signalled intentions to diversify into technology-led sectors through subsidiaries operating in agritech and healthtech verticals, and the current move aligns with those plans. The board meeting additionally considered a potential fund raise of around Rs five bn, with routes including qualified institutional placement, preferential issue, private placement or a combination of permissible methods. Any fund raiser would be subject to further approvals and market conditions. AVI Polymers operates in polymer products, speciality chemicals, agriculture trading and technology-driven solutions and sees the acquisition as a step to strengthen its technology capabilities. The company anticipates that integrating JVTR's operations will support system integration and digital platform initiatives as it expands its services. The acquisition process will proceed only after completion of due diligence and receipt of the requisite regulatory and shareholder consents.