NEW DELHI: Electronic manufacturing firm
Dixon
Technologies India has opened its IPO (Initial Public Offering) for subscription today with a price band of Rs 1,760-1,766 per share with a face value of Rs 10 each. The IPO offer will close on September 8.
The company expects to raise Rs 600 crore from its IPO and plans to spend the proceeds on capacity expansion and debt repayment.
"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 said in a press meeting.
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.
Dixon has six manufacturing facilities at present. Three plants are located in Noida and Dehradun each. The company is electronic contract manufacturer for Panasonic India, Philips Lighting India, Intex technologies, Gionee and Surya Roshini, among others.
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