Dixon Technologies Clarifies JV Term Sheet with Vivo India

Dixon Technologies (India) Ltd has issued a clarification regarding a news item about a potential joint venture with vivo Mobile India Private Limited (vivo India). The company confirmed that a binding term sheet was signed on December 15, 2024, to form a joint venture for the OEM business of electronic devices, including smartphones. Dixon will hold a 51% stake and vivo India 49%. The JV is subject to definitive agreements, customary conditions precedent, and regulatory approvals, including foreign exchange control laws. The company stated that the statutory approval is still awaited and there have been no material developments requiring further disclosure. Dixon emphasized that the initial announcement on December 15, 2024, covered all necessary information and there is no other undisclosed information that could explain any trading activity.