Dixon Technologies to raise Rs 600 crore through IPO
DSIJ Intelligence / 01 Aug 2017
Dixon Technologies reported that the company received the approval from capital market regulator SEBI to raise an estimated Rs 600 – Rs 650 crore via initial public offering.
Dixon Technologies reported that the company received the approval from capital market regulator SEBI to raise an estimated Rs 600 – Rs 650 crore via initial public offering.
In May, the company had filed draft papers to float an IPO and received observation from the regulator on July 26, according to Sebi’s latest update.
The company’s issue comprises of shares worth Rs 60 crore as fresh issue and an offer for sale of up to 3,753,739 equity scrips by the existing shareholders.
The net amount from the issue will be utilised for setting up a unit for manufacturing of LED TVs at the Tirupati facility, enhancement of backward integration capabilities in the lighting products vertical at Dehradun facility and upgradation of the information technology infrastructure. Apart from this, the proceeded amount will also be used for repayment of loans and for general corporate purposes.
The book running lead managers to the issue are IDFC Bank, IIFL Holdings, Motilal Oswal Investment Advisors and Yes Securities.
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