Dixon Technologies Limited agreed to acquire 50.1% stake in Ismartu India Private Limited from Ismartu In Pte. Limited, 5A Advisors LLP and Transsion Technology Limited for INR 2.4 billion.

Dixon Technologies (India) Limited (NSEI:DIXON) agreed to acquire 50.1% stake in Ismartu India Private Limited from Ismartu In Pte. Limited, 5A Advisors LLP and Transsion Technology Limited for INR 2.4 billion on April 8, 2024. The consideration consists of INR 2.4 billion in cash.

As part of the consideration, 2.4 billion was paid towards common equity. The deal is subject to the approval of Competition Commission of India and subject to preclosing and post post-closing adjustments in accordance with the terms of the Share Purchase Agreement. The transaction is to be completed within 90 days from the date of execution of the Share Purchase Agreement.