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The company is targeting to create a capacity of almost 25 million in the Delhi NCR region in the first phase. The capex for this is going to be almost $30 million without land and building.
Traditionally, Indian businesses faced challenges competing with China. However, within a short span, many have not only rivaled Chinese firms globally but have also become symbols of homegrown manufacturing prowess. Dixon Technologies, India's largest electronics contract manufacturer, seized opportunities offered by the Production-Linked Incentive (PLI) scheme amidst a shift away from China due to geopolitical tensions.
“Dixon Technologies (India) Limited has entered into a share purchase agreement with Ismartu In Pte. Limited (Ismartu Singapore), Transsion Technology Limited, 5A Advisors LLP and Ismartu India Private Limited (Ismartu) for the proposed acquisition of a majority stake constituting 50.10%,” Dixon said in a regulatory filing.
Tata Motor's arm Jaguar Land Rover (JLR) reported more than 20 per cent YoY growth in its sales for FY24 on improved production and sustained global demand.
Dixon Technologies shares opened higher at Rs 7805. The market cap of the consumer durables firm rose to Rs 46,012 crore.