Dixon Technologies to incorporate Adivistar Electronics India as new subsidiary

New Delhi: Electronics and manufacturing services major Dixon Technologies (India) Ltd on Wednesday said it is in the process of incorporating a new subsidiary, Adivistar Electronics India Pvt Ltd, which will undertake the original equipment manufacturing (OEM) business of electronic devices, including smartphones.

Dixon will hold a 51% equity stake in the new entity, involving an initial investment of ₹2.55 crore, according to a regulatory filing.

Dixon will acquire 25,50,000 equity shares of the new subsidiary at a face value of ₹10 per share. The transaction will be a cash consideration.