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Stock Report
Dixon and Signify sign binding term sheet for JV in India
Posted On : 2025-03-27 14:26:53( TIMEZONE : IST )
Dixon and Signify are pleased to announce the execution of a binding term sheet on March 27, 2025 for a proposed joint venture in India for carrying on the business as an original equipment manufacturer (OEM) of lighting products and accessories. Each of Dixon and Signify will hold 50% stake in the joint venture entity to be incorporated for this purpose. Neither Dixon nor Signify will have any stake in each other.
Parties will agree to the detailed provisions in relation to setting up the JV entity, its governance, valuation of transaction and other terms and conditions in the definitive agreements. The transaction will be subject to execution of such definitive agreements, completion of customary conditions precedent and receipt of applicable regulatory approvals, if applicable.
Mr. Atul B. Lall, Vice Chairman and Managing Director of Dixon, added "It gives us immense pleasure to partner with Signify India, the leader in the lighting segment. We see them as an ideal strategic partner that shares our core values of quality, innovation, manufacturing prowess, and customer centricity. We believe this proposed association will bolster our operational efficiency backed by Signify's process orientation and strong understanding of lighting technologies."
"Aligned to the government's Make in India vision, this proposed joint venture with Dixon Technologies will create a world-class manufacturing company that combines the technology leadership, pricing, and offerings to the customers. With Signify's unparalleled understanding of lighting technologies and Dixon's manufacturing excellence, this joint venture will manufacture high-quality competitive lighting products in India." said Mr. Sumit Joshi, MD and CEO, Signify Innovations India Ltd.
Shares of Dixon Technologies (India) Limited was last trading in BSE at Rs. 13252.10 as compared to the previous close of Rs. 13649.85. The total number of shares traded during the day was 33766 in over 9743 trades.
The stock hit an intraday high of Rs. 13698.75 and intraday low of 13210.00. The net turnover during the day was Rs. 453995685.00.
