Dixon Technologies enters joint venture with Signify for lighting

Dixon Technologies (India) Limited (BSE:DIXON) announced today that it has entered a joint venture agreement with Signify Innovations India Limited to establish a joint venture company in India. The JV will focus on the original equipment manufacturer (OEM) business of lighting products and accessories. Dixon will acquire 50% stake in the JV Co. for consideration other than cash by transfer of its lighting business to the JV Co., including its entire shareholding in Dixon Technologies Solutions Private Limited, with Signify acquiring the remaining 50% for cash, which will be used to acquire Signify's LED manufacturing business. This partnership is expected to bolster Dixon's manufacturing capabilities and enhance its position in the Indian lighting market. The proposed transaction is anticipated to be completed by November 30, 2025, subject to customary closing conditions. The valuation for the transaction will be mutually agreed upon by the parties and will comply with applicable laws.