Subsidiary Incorporation Details
Dixon Technologies is in the process of incorporating one subsidiary company named 'Adivistar Electronics India Private Limited'. Dixon will acquire 51% equity shares comprising 25,50,000 equity shares of ₹10 each in the proposed company.
Detailed Subsidiary Information
1. Proposed Company Details
- Name: Adivistar Electronics India Private Limited
- Date of Incorporation: To be incorporated
- Country of Incorporation: India
2. Holding Company Structure
Dixon Technologies (India) Limited will be the holding company with 51% equity shareholding in the proposed company once incorporated.
3. Industry Classification
The subsidiary will operate in the manufacturing industry.
4. Business Background
The proposed company will undertake original equipment manufacturing (OEM) business of electronic devices, including smartphones.
5. Regulatory Approvals
Approval has been received from the Ministry of Electronics and Information Technology, Government of India (MeitY) under Press Note 3 (2020 Series) issued by the Department for Promotion of Industry and Internal Trade. This approval is read with the Foreign Exchange Management (Non-Debt Instruments) Rules, 2019, for the proposed investment by vivo Mobile India Private Limited in the proposed company.
6. Consideration Type
The investment will be made through cash consideration.
7. Investment Cost
The total cost of initial subscription is ₹2,55,00,000 (Rupees Two Crores Fifty-Five Lakhs Only), which represents ₹10 per equity share (face value of each equity share).
8. Shareholding Structure
Dixon will hold 51% of the equity share capital of the proposed company, comprising 25,50,000 equity shares of ₹10 each.
Additional Information
This disclosure is also available on the company's website at www.dixoninfo.com.