Based in India, the electronic manufacturing firm, Dixon Technologies, has opened the IPO today at the price ranging between Rs. 1760 and 1766 per share. As for the face value, it amounts to Rs. 10 every share. The offer would not last for much time but will close on 8 September 2017.
The company expects to gain Rs. 600 crores from the IPO and move on with the plans of expanding its business and repaying debts.
In a press meeting, the Managing Director, Atul B. Lall spoke that some money would be spent on establishing the LED TV unit in Tirupati. The balance amount would be used in enhancing IT infrastructure, debt repayment, and integration of lighting business. This would actually be beneficial for the corporate world.
Post listing, promoters of Dixon would hold 52 percent, while employees would have 8 percent, 5 percent would be with Motilal Oswal, and 35 with the public.
Currently, Dixon has six manufacturing units. Three plants are situated in Dehradun and Noida and the organization has signed a contract for Panasonic India, Philips Lighting India, Surya Roshini, Gionee, and Intex Technologies.