1. Dixon Tech IPO subscribed 117.5 times on final day

Dixon Tech IPO subscribed 117.5 times on final day

The IPO of Dixon Technologies was subscribed 117.5 times on Friday with investors bidding for 27.93 crore shares against the 23.76 lakh shares on offer.

By: | Mumbai | Updated: September 9, 2017 2:38 AM
Dixon Technologies, Dixon Technologies ipo, ipo news, latest ipo, new ipos, Dixon Technologies initial public offering Dixon Technologies is a design-focused and solutions company engaged in manufacturing products in the consumer durables, lighting and mobile phones markets in India. (Reuters)

The initial public offering (IPO) of Dixon Technologies was subscribed 117.5 times on Friday with investors bidding for 27.93 crore shares against the 23.76 lakh shares on offer. The qualified institutional buyers bid 9.14 crore shares on the third day of the IPO. High net worth individuals (HNIs) bid for 17.59 crore shares and retail investors bid for 1.18 crore shares of the 11.88 lakh shares on offer. The Dixon IPO has a price band of Rs 1,760-1,766 per share with a face value of Rs 10 each. The company aims to raise Rs 597.44-599.27 crore through the issue. The public issue consists of fresh issue of Rs 60 crore and an offer for sale of up to 30,53,675 equity shares.

Dixon Technologies will use issue proceeds for setting up a unit for manufacturing LED TVs at its Tirupati facility; enhancement of backward integration capabilities in the lighting products vertical at Dehradun facility and upgradation of the information technology infrastructure; for repayment of loans; and for general corporate purposes.

Dixon Technologies is a design-focused and solutions company engaged in manufacturing products in the consumer durables, lighting and mobile phones markets in India. The company is an electronic contract manufacturer for Panasonic India, Philips Lighting India, Intex technologies, Gionee and Surya Roshini, among others.

It also provides solutions in reverse logistics i.e. repair and refurbishment services of set top boxes, mobile phones and LED TV panels. The company has six manufacturing facilities at present, three each in Noida and Dehradun.

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