Acquisitions13 Aug 2024, 06:00 pm
Dixon Technologies Acquires 50.10% Stake in Ismartu India Private Limited for INR 275,98,73,643
AI Summary
Dixon Technologies (India) Ltd has completed the acquisition of a 50.10% stake in Ismartu India Private Limited for a total consideration of INR 275,98,73,643. The acquisition was carried out in accordance with the Share Purchase Agreement (SPA) dated 8 April, 2024, and the Shareholders’ Agreement dated 8 April, 2024. The acquisition was subject to approval from the Competition Commission of India (CCI), which was obtained on 18 July, 2024. The Target Company has become a subsidiary of Dixon Technologies (India) Ltd.
Key Highlights
- Dixon Technologies (India) Ltd has acquired a 50.10% stake in Ismartu India Private Limited.
- The total consideration for the acquisition is INR 275,98,73,643.
- The acquisition was carried out in accordance with the Share Purchase Agreement (SPA) and Shareholders’ Agreement dated 8 April, 2024.
- The acquisition was subject to approval from the Competition Commission of India (CCI), which was obtained on 18 July, 2024.
- Ismartu India Private Limited has become a subsidiary of Dixon Technologies (India) Ltd.