Dixon Tech looks to raise Rs 600-cr from IPO starting Sep 6
05/09/2017
Electronic manufacturing firm Dixon Technologies (India) expects to raise Rs 600 crore from its IPO due on September 6 and plans to spend the proceeds on capacity expansion and debt repayment, reported PTI."In the primary raise, the money will be spent on setting up LED TV capacity in Tirupati, expansion of our backward integration of lighting business, debt repayment, IT infrastructure and the rest will be used for general corporate purposes," Dixon Technologies Managing Director Atul B Lall told reporters here.The company expects to raise Rs 60 crore from the primary round of equity sale and Rs 540 crore from offer for sale."Post listing, 52 per cent of Dixon will be held by promoters and friends, 8 per cent by employees, 5 per cent by Motilal Oswal and 35 per cent will be with the public," Lall said.The initial public offer (IPO) will open on September 6 and close on September 8 with a price band of Rs 1,760-1,766 per share with a face value of Rs 10 each.Dixon has six manufacturing facilities at present. Three plants are located in Noida and Dehradun each.Dixon plans to repay debt of Rs 22 crore, invest Rs 7.57 crore in setting up its seventh manufacturing unit for LED television in Tirupati. The company will use Rs 8.85 crore for producing parts of LED lights at its Dehradun plant.The company is electronic contract manufacturer for Panasonic India, Philips Lighting India, Intex technologies, Gionee and Surya Roshini, among others.
Dixon had registered about 20 per cent increase in its consolidated profit at Rs 50.4 crore in 2016-17, from Rs 42 crore in the previous fiscal.The revenue of Dixon jumped by about 82 per cent to Rs 2,456 crore at the end of 2016-17, from Rs 1,344 crore a year ago, aided by the mobile phone segment.
05/09/2017
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Electronic manufacturing firm Dixon Technologies (India) expects to raise Rs 600 crore from its IPO due on September 6 and plans to spend the proceeds on capacity expansion and debt repayment, reported PTI."In the primary raise, the money will be spent on setting up LED TV capacity in Tirupati, expansion of our backward integration of lighting business, debt repayment, IT infrastructure and the rest will be used for general corporate purposes," Dixon Technologies Managing Director Atul B Lall told reporters here.The company expects to raise Rs 60 crore from the primary round of equity sale and Rs 540 crore from offer for sale."Post listing, 52 per cent of Dixon will be held by promoters and friends, 8 per cent by employees, 5 per cent by Motilal Oswal and 35 per cent will be with the public," Lall said.The initial public offer (IPO) will open on September 6 and close on September 8 with a price band of Rs 1,760-1,766 per share with a face value of Rs 10 each.Dixon has six manufacturing facilities at present. Three plants are located in Noida and Dehradun each.Dixon plans to repay debt of Rs 22 crore, invest Rs 7.57 crore in setting up its seventh manufacturing unit for LED television in Tirupati. The company will use Rs 8.85 crore for producing parts of LED lights at its Dehradun plant.The company is electronic contract manufacturer for Panasonic India, Philips Lighting India, Intex technologies, Gionee and Surya Roshini, among others.
Dixon had registered about 20 per cent increase in its consolidated profit at Rs 50.4 crore in 2016-17, from Rs 42 crore in the previous fiscal.The revenue of Dixon jumped by about 82 per cent to Rs 2,456 crore at the end of 2016-17, from Rs 1,344 crore a year ago, aided by the mobile phone segment.
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