Acquisitions9 Apr 2024, 04:02 am
Dixon Technologies Announces Agreement to Acquire 50.1% Stake in Ismartu India for INR 1,400 Crores
AI Summary
Dixon Technologies (India) Ltd has entered into agreements to acquire a majority stake in Ismartu India Private Limited. The acquisition includes purchasing 50.10% of the total issued, subscribed, and paid-up share capital from Ismartu In Pte. Limited, Transsion Technology Limited, and 5A Advisors LLP. The deal is subject to approval from the Competition Commission of India and satisfaction of certain conditions. Alongside, Dixon Technologies and the shareholders of Ismartu India have also signed a shareholders' agreement.
Key Highlights
- Dixon Technologies to acquire a 50.1% stake in Ismartu India for undisclosed amount
- The acquisition involves purchase of shares from Ismartu In Pte. Limited, Transsion Technology Limited, and 5A Advisors LLP
- Approval from Competition Commission of India and fulfillment of certain conditions precedent are required for deal closure
- Shareholders' agreement signed between Dixon Technologies, Ismartu Singapore, and 5A Advisors