Avalon Technologies Limited ("Avalon") has incorporated a wholly owned subsidiary named "Zollner Avalon Private Limited" on October 19, 2026, at 12:07 p.m. (IST). The Ministry of Corporate Affairs, Government of India issued the Certificate of Incorporation on this date.

This incorporation follows the disclosure made on September 03, 2026, regarding the planned joint venture. The subsidiary is initially wholly owned by Avalon, but Zollner will subsequently subscribe to equity shares representing 51% of the company's issued and paid-up share capital, subject to conditions set out in the Joint Venture Agreement (JVA). Following incorporation, the company will accede to the JVA by executing a deed of accession.

Financial and Capital Structure Details

  • Authorized Share Capital: ₹2,00,000 (Indian Rupees Two Lakh), comprising 20,000 equity shares of ₹10 each
  • Initial Subscription: Avalon subscribed to 9,800 equity shares of ₹10 each
  • Paid-up Capital: ₹98,000 initially
  • Consideration Method: Cash (Bank Transfer)
  • Shareholding Pattern: Initially 100% held by Avalon, transitioning to 49% after Zollner's subscription of 51%

Business Operations

  • Industry: Electronic Manufacturing Services
  • Business Activities: Manufacturing and services platform for printed circuit board assembly, box-build and system integration, testing, validation, industrialization support, sourcing, supply-chain coordination, logistics, and related after-sales services
  • Relation to Main Business: The business is not outside Avalon's main line of business

Regulatory and Compliance Aspects

  • Disclosure Requirement: Made under Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • Related Party Status: Zollner Avalon Private Limited will be a related party of Avalon
  • Transaction Nature: Considered arm's length with no other interests in the company at this stage
  • Government Approvals: Not applicable for the incorporation

Additional Information

  • Country of Incorporation: India
  • Turnover: Not applicable as company is newly incorporated
  • Time Period for Completion: Not applicable
  • Historical Financials: Last 3 years turnover not applicable

The disclosure was signed by Mr. Ajay Shukla, Company Secretary & Compliance Officer (M. No: A36992) of Avalon Technologies Limited on October 20, 2026.