Dixon Technologies IPO priced at INR1,760-1,766, issue opens on 6 Sep


Dixon Technologies India Limited will be launching its initial public offer (IPO) on 6 September 2017. The upcoming IPO, priced in the range of INR1,760 – 1,766 per equity share, will close on 8 September 2017. The Anchor Investor Bid/Offer Period shall be 5 September 2017, being one working day prior to the Offer Opening Date. Investors can place their bids in Dixon Technologies IPO for the bid lot of minimum 8 equity shares and in multiples thereafter.

Dixon Technologies IPO = More OFS, less fresh

The offer comprises of a fresh issue of equity shares aggregating up to INR60 crore (INR600 million) by the company and an offer for sale (OFS) of up to 3,053,675 equity shares by selling shareholders. In total, the IPO will mobilize INR599.28 crore. The OFS component consists of up to 634,368 Equity Shares by Sunil Vachani, up to 1,446,201 Equity Shares by Indian Business Excellence Fund I and up to 495,313 Equity Shares by Indian Business Excellence Fund, and up to 477,793 equity shares by Atul B. Lall, Kamla Vachani, Geeta Vaswani, Sunita Mankani and Shobha Sippy collectively.

Net Proceeds from the fresh issue component of the offer will be utilised towards funding (i) repayment/pre-payment, in full or in part, of certain borrowings availed by the company, (ii) setting up a unit for manufacturing of LED TVs at the Tirupati Facility, (iii) enhancement of their backward integration capabilities in the lighting products vertical at the Dehradun I Facility, (iv) upgradation of the information technology infrastructure of the Company and (v) general corporate purposes

IDFC Bank Limited, IIFL Holdings Limited, Motilal Oswal Investment Advisors Limited and Yes Securities (India) Limited are the Book Running Lead Managers (BRLMs) to the offer. The registrar to Dixon Technologies IPO is Karvy Computershare Private Limited.

Business Backgroud

Dixon Technologies is the largest Indian home grown design-focused and solutions company  and leading Original Design Manufacturer (ODM) of lighting products, LED TVs and semi-automatic washing machines in India.

Its key customers include Panasonic India Private Limited, Philips Lighting India Limited, Haier Appliance (I) Pvt. Ltd., Gionee, Surya Roshni Limited, Reliance Retail Limited, Intex Technologies (I) Ltd., Mitashi Edutainment Pvt. Ltd., and Dish Infra Services Private Limited.


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