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The electronic manufacturing services company Dixon Technologies (India) Ltd intends to raise about Rs. 600.00 crore from its IPO which is opening tomorrow, 6 Sept.

The company expects to garner Rs 60.00 crore from the initial round of equity sale and Rs 540.00 crore from offer for sale (OFS) route. The IPO will open on Sept 6 and close on Sept 8 with a price band of Rs. 1,760 TO 1,766 share apiece with a face value of Rs. 10.00 each.

Dixon Technologies plans to repay debt of Rs 22.00 crore, invest Rs 7.57 crore in setting up its 7th manufacturing unit for LED TV in Tirupati. The company will utilize Rs 8.85 crore for producing parts of LED lights at its Dehradun plant.

Financially, the revenue of the company has grown by about 82% to Rs 2456 crore at the end of 2016-17, from Rs 1,344 crore a year ago, supported by the mobile phone segment. Dixon Technologies had registered about 20 % increase in its consolidated profit at Rs 50.4 crore in 2016-17, from Rs 42 crore in the previous fiscal.

 

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