Dixon Technologies (India) Limited Regulatory Response

Communication Details

Dixon Technologies responded to a query from the National Stock Exchange of India Limited (NSE) dated June 17, 2026 (Reference: NSE/CM/Surveillance/17109) regarding unusual trading volume activity. The query was addressed to Mr. Amit Shinde, Chief Manager- Surveillance Department at NSE.

Company's Clarification on Trading Volume and Joint Venture Status

The company clarified that:

  • Dixon entered into a binding Term Sheet with vivo Mobile India Private Limited on December 15, 2024 to form a Joint Venture for OEM business of electronic devices including smartphones
  • The original announcement was made to stock exchanges on December 15, 2024 as required under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015
  • As of June 17, 2026, the requisite statutory approvals for the transaction are still awaited
  • There have been no material developments requiring additional disclosure under SEBI LODR Regulations
  • The company has no undisclosed information that could explain the trading volume movement
  • The company has no involvement in the media publication that prompted the exchange query

Joint Venture Details

According to the original December 2024 announcement:

  • Dixon will hold 51% share capital, vivo India will hold 49% in the proposed joint venture entity
  • No cross-ownership between Dixon and vivo India
  • The facility will undertake part of vivo's OEM orders of smartphones in India
  • The joint venture may also engage in OEM business of various electronic products for other brands
  • The transaction is subject to signing definitive agreements, completion of customary conditions precedent, and receipt of applicable regulatory approvals including foreign exchange control approvals

Management Commentary

  • Mr. Atul B. Lall, Vice Chairman and Managing Director of Dixon: Described vivo as an "iconic global brand" and "ideal strategic partner" that shares core values of quality and engineering prowess
  • Mr. Jerome Chen, CEO of vivo India: Stated the joint venture will "effectively complement the current manufacturing operations of vivo India"