Dixon Technologies (India) Ltd has partnered with Signify Innovations to launch a 50:50 lighting JV, Lightanium Technologies, as part of a broader realignment of its lighting operations, even as its recent tie-ups with Chinese component makers face regulatory scrutiny.
On Thursday, Dixon Technologies announced that it has entered into a binding term sheet and subsequently executed a joint venture agreement (JVA) with Signify Innovations India Limited to form a 50:50 joint venture company. The new JV company will be called Lightanium Technologies Private Limited and it will carry on the OEM business of lighting products and accessories.
In a regulatory filing, Dixon Technologies said, “As mentioned in our intimations dated March 27, 2025 and June 12, 2025, the Proposed Transaction involves, inter alia, (a) transfer of the lighting business of the company, including its entire stake in Dixon Technologies Solutions Private Limited (DTSPL), a wholly-owned subsidiary of the company; and (b) transfer by Signify of its business undertaking comprising LED lighting manufacturing operations at its factory in Vadodara.”
The association, it added, will bolster the company’s manufacturing excellence and superior execution abilities and will further strengthen its foothold in the lighting business ecosystem in India in line with the company’s strategic goals.
The proposed transaction is expected to be completed by November 30, 2025. Dixon Technologies will acquire a 40.37 per cent stake in the joint venture by transferring its Lighting Business Undertaking as non-cash consideration.
Dixon Technologies said, “The company shall be allotted 11,53,00,000 equity shares of Lightanium Technologies Private Limited having face value of Rs 10 each each constituting 40.37 per cent of the post issue paid up share capital of Lightanium Technologies Private Limited on a fully diluted basis, as consideration for the transfer of the Lighting Business Undertaking.”
Chinese partnerships under government lens
In a separate development, Dixon has entered into individual agreements with Chinese electronic component makers — Chongqing Yuhai Precision Manufacturing Co Ltd and the Indian subsidiary of Kunshan Q Technology — to manufacture and sell electronic components used in devices such as mobile phones, laptops, and more. Meanwhile, a PTI report stated that the government plans to review these recent agreements between Dixon and the two Chinese firms.
“Due process will be followed when their application comes under Press Note 3 rules,” an official as quoted by PTI.