Dixon Technologies IPO

Dixon Technologies IPO

Business description from prospectus – Dixon Technologies is the largest home-grown design-focused and solutions company engaged in manufacturing products in the consumer durables, lighting and mobile phones markets in India. Our diversified product portfolio includes (i) consumer electronics like LED TVs; (ii) home appliances like washing machines; (iii) lighting products like LED bulbs and tubelights, downlighters and CFL bulbs; and (iv) mobile phones. We also provide solutions in reverse logistics i.e. repair and refurbishment services of set top boxes, mobile phones and LED TV panels. As per the Frost & Sullivan Report, we are the leading manufacturer of lighting products of CFL, LED bulbs, LED TVs and semi-automatic washing machines in India. Our 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., Dish Infra Services Private Limited.

We are a fully integrated end-to-end product and solution suite to original equipment manufacturers (OEMs) ranging from global sourcing, manufacturing, quality testing and packaging to logistics. We are also a leading Original Design Manufacturer (ODM) of lighting products, LED TVs and semi-automatic washing machines in India. As an ODM, we develop and design products in-house at our R&D centre. We manufacture and supply these products to well-known companies in India who in turn distribute these products under their own brands.

Promoters of Dixon Technologies – Sunil Vachani

Dixon Technologies IPO details
Subscription Dates 6 – 8 September 2017
Price Band INR1,760 – 1,766 per share
Fresh issue INR60 crore
Offer For Sale 3,053,675 shares (INR537.45 -539.28 crore)
Total IPO size INR597.45 – 599.28 crore
Minimum bid (lot size) 8 shares
Face Value  INR10 per share
Retail Allocation 35%
Listing On NSE, BSE
Dixon Technologies’ financial performance (in INR crore)
FY2013 FY2014 FY2015 FY2016 FY2017
Total revenue 768.0 1,097.1 1,203.1 1,391.2 2,458.3
Total expenses 763.0 1,084.3 1,185.9 1,352.3 2,389.4
Profit after tax 5.0 13.5 11.9 42.6 50.4

Dixon Technologies India Limited 
B-14 & 15, Phase-II, Noida,
Gautam Buddha Nagar,
Uttar Pradesh 201 305

Phone: +91 120 473 7200 
Fax: 
+91 120 473 7263
Email:
[email protected]
Website: www.dixoninfo.com

Karvy Computershare Private Limited
Karvy Selenium Tower B, Plot 31-32,
Gachibowli, Nanakramguda,
Hyderabad – 500 032, Telangana

Phone: +91 40 6716 2222 
Fax:
 +91 40 2343 1551 
Email:
 [email protected]
Website: www.karvycomputershare.com

Earnings Per Share (EPS): INR46.22

Price/Earnings (P/E) ratio: 38.1 – 38.2

Return on Net Worth (RONW): 25.48%

Net Asset Value (NAV): INR179.96 per share

Dixon Technologies IPO Subscription Details

Category Shares offered Subscription (no. of times, at 5 PM)
Day 1 Day 2 Day 3
QIB 679,264 0.77 8.92 134.65
NII 509,188 0.04 0.30 345.61
Retail 1,188,105 0.75 3.27 9.42
Total 2,376,557 0.60 4.25 117.24

Dixon Technologies IPO allotment status is now available on Karvy Computershare’s website. Click on this link to get allotment status. You can also check allotment status using application number on this link.

IPO Opening Date: 6 September 2017

IPO Closing Date: 8 September 2017

Finalisation of Basis of Allotment: 13 September 2017

Initiation of refunds: 14 September 2017

Transfer of shares to demat accounts: 15 September 2017

Listing Date: 18 September 2017

Listing Price on NSE: INR2,725 per share (up 54.3% from IPO price)

Closing Price on NSE: INR2,891.55 per share (up 63.7% from IPO price)

33 COMMENTS

  1. HIGH HIGH HIGH
    AVOID AVOID AVOID

    Came back to IPO market after sometime and I see this. Wonder what veterans have to say!

    • Do you any reason for an avoid reccomendation. This is a high ROCE and ROE and Asset Turnover company, the GMP is somewhere around 350. It may look optically high and could be fully priced but no stock today is just for a listing pop you need a stock that will give you actual wealth creation and this is one of those stocks

  2. Bhai BrezzaRunner, I think it is much better than bharat road and matrimony.com. Old buisness but there are good profits. Pe ratio is slightly high but me thinks it is still ok than others.

    • First Brezza Runner and now Brezza Flyer! and they are totally different opinions…

      Anyway, I think Dixon is a winner without a doubt. Even grey market is saying this.

  3. P/E ratio is high considering average of 20-25 of listed companies.
    It seems more of a assembly business than actual design. Something which can soon have competition. Profit margin is low at about 2%. It all depends on revenue growth visibility and margin improvement. Except for current year, the revenue have increased at 10% annually. I do not know about imaginary ROCE and ROE.

  4. I filled Dixon ipo through bank of Baroda ASBA.But I didn’t get share. But still my balance is lien.Any one tell me how to unblock my balance…??? please help me …..

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