Dixon Guarantees $220M for Subsidiary Padget Electronics

Dixon Technologies (India) Limited has issued a corporate guarantee for its wholly-owned subsidiary, Padget Electronics Private Limited. The guarantee, amounting to USD 220,000,000, is in favor of Lenovo Ireland International Limited. This ensures Padget meets its payment obligations for raw materials and components used in manufacturing Lenovo products. Dixon states this is a contingent liability with no immediate impact, and the guarantee is provided on an arm's length basis. Padget is an unlisted material subsidiary, and no other promoter or group companies have an interest in this transaction.