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Business News/ Market / Stock-market-news/  Dixon Tech files IPO papers with Sebi to raise 650 crore
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Dixon Tech files IPO papers with Sebi to raise ₹650 crore

Dixon Tech will use IPO proceeds for setting up a unit for manufacturing of LED TVs, enhancement of backward integration capabilities and others purposes

Dixon Tech will use the funds for repayment of loans and for general corporate purposes. Photo: BloombergPremium
Dixon Tech will use the funds for repayment of loans and for general corporate purposes. Photo: Bloomberg

New Delhi: Dixon Technologies, a consumer electronics and lighting product manufacturer, on Friday filed draft papers with market regulator Sebi to raise an estimated 600-650 crore through initial public offering.

The public issue comprises fresh issue of shares worth 60 crore and an offer for sale of up to 3,753,739 equity scrips by the existing shareholders, Dixon Technologies said in a statement.

According to sources, the company is targeting to raise 660-650 crore through the initial public offering.

Proceeds 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.

Besides, the funds will also be used for repayment of loans and for general corporate purposes. IDFC Bank, IIFL Holdings, Motilal Oswal Investment Advisors and Yes Securities are the book running lead managers to the issue.

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Published: 19 May 2017, 05:36 PM IST
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