Noida-based Electronics manufacturing Service provider Dixon Technologies has entered into a share purchase agreement to acquire a significant stake in Ismartu India. Dixon will acquire up to 56% equity in Ismartu in two tranches, it said in an exchange filing.
The acquisition will be carried out in two tranches, with Dixon initially acquiring a 50.10% stake. Ismartu India, known for its brands 'Itel', 'Infinix', and 'Tecno', is a leader in the feature phones segment in India and has three manufacturing facilities in Noida.
The first tranche of the acquisition, amounting to Rs 238.36 crore, is expected to be completed within 90 days from the date of the agreement, subject to certain conditions including approval from the Competition Commission of India (CCI).
Dixon also has the rights to acquire an additional stake of between 1.60% to 5.90% in Ismartu India in the financial year 2026-27.
This strategic move aligns with Dixon Technologies' growth plans in the electronics manufacturing services (EMS) sector and aims to capitalize on the expanding Indian EMS industry.
Dixon Technologies is an Indian electronics manufacturing services company, based in Noida. It is a contract manufacturer of televisions, washing machines, smartphones, LED bulbs, battens, downlighters and CCTV security systems for companies such as Samsung, Xiaomi, Panasonic and Philips.
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