Bookbuilding IPO | ₹599 Cr | Listed at BSE, NSE | Wed, Sep 6, 2017 - Fri, Sep 8, 2017
Dixon Technologies IPO is a book build issue of ₹599.28 crores. The issue is a combination of fresh issue of 0.03 crore shares aggregating to ₹60.00 crores and offer for sale of 0.31 crore shares aggregating to ₹539.28 crores.
Dixon Technologies IPO bidding started from Sep 6, 2017 and ended on Sep 8, 2017. The allotment for Dixon Technologies IPO was finalized on Sep 13, 2017. The shares got listed on BSE, NSE on Sep 18, 2017.
Dixon Technologies IPO price band is set at ₹1,766 per share. The lot size for an application is 8. The minimum amount of investment required by an retail is ₹14,128 (8 shares) (based on upper price). The lot size investment for sNII is 15 lots (120 shares), amounting to ₹2,11,920, and for bNII, it is 71 lots (568 shares), amounting to ₹10,03,088.
IDFC Bank Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Dixon Technologies IPO RHP for detailed Information.
IPO Open
Wed, Sep 6, 2017
IPO Close
Fri, Sep 8, 2017
Issue Price
₹1766 per share
Market Cap (Pre-IPO)
₹2,000.01 Cr
| IPO Date | 6 to 8 Sep, 2017 |
| Listed on | Mon, Sep 18, 2017 |
| Face Value | ₹10 per share |
| Price Band | ₹1760 to ₹1766 |
| Issue Price | ₹1766 per share |
| Lot Size | 8 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 33,93,425 shares (agg. up to ₹599 Cr) |
| Fresh Issue | 3,39,750 shares (agg. up to ₹60 Cr) |
| Offer for Sale | 30,53,675 shares of ₹10 (agg. up to ₹539 Cr) |
| Share Holding Pre Issue | 1,09,85,341 shares |
| Share Holding Post Issue | 1,13,25,091 shares |
| BSE Script Code / NSE Symbol | 540699 / DIXON |
| ISIN | INE935N01012 |
Dixon Technologies IPO comprises a total issue size of 33,93,425 shares. Out of which, 16,96,712 (50.00%) are allocated to QIB, 5,09,014 (15.00%) allocated to NII 11,87,699 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Total Issue | Max Allottees |
|---|---|---|---|
| QIB Shares Offered | 16,96,712 | 50.00% | NA |
| − Anchor Investor Shares Offered | 10,18,027 | 30.00% | NA |
| − QIB (Ex. Anchor) Shares Offered | 6,78,685 | 20.00% | NA |
| NII (HNI) Shares Offered | 5,09,014 | 15.00% | NA |
| Retail Shares Offered | 11,87,699 | 35.00% | 1,48,462 |
| Total Shares Offered | 33,93,425 | 100.00% |
Investors can bid for a minimum of 8 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 8 | ₹14,128 |
| Retail (Max) | 14 | 112 | ₹1,97,792 |
| S-HNI (Min) | 15 | 120 | ₹2,11,920 |
| S-HNI (Max) | 70 | 560 | ₹9,88,960 |
| B-HNI (Min) | 71 | 568 | ₹10,03,088 |
Dixon Technologies IPO raises ₹179.78 crore from anchor investors. Dixon Technologies IPO Anchor bid date is September 5, 2017.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, Sep 5, 2017 |
| Shares Offered | 10,18,027 |
| Anchor Portion (₹ Cr.) | 179.78 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Oct 13, 2017 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, Dec 12, 2017 |
Incorporated in 1993, Dixon Technologies is engaged in manufacturing products in the consumer durables, lighting and mobile phones markets. The product portfolio of Dixon include:
1. Consumer electronics like LED TVs
2. Home appliances like washing machines
3. Lighting products like LED bulb, tube lights, CFL bulbs etc.
4. Mobile phones
Company also provide repair and refurbishment services of set top boxes, mobile phones and LED TV panels.
Dixon is leading manufacturer of lighting products of CFL, LED bulbs, LED TVs and semi-automatic washing machines in India. Dixon manufacture products for popular retail brands including Panasonic, Philips, Haier, Gionee, Surya Roshni, Reliance Retail, Intex Technologies, Mitashi and Dish.
Dixon is also a leading Original Design Manufacturer (ODM) in India. Company develop and design products in-house at its R&D facility. The ODM business contribute over 25% of its revenue.
Company have six manufacturing facilities located in the states of Uttar Pradesh and Uttarakhand. Company has over 629 permanent employees and 4,030 contractors.
Competitive Strengths
1. Leading market position in key verticals (Manufacturing of TVs, washing machines, LED and CFL lights)
2. Strong relationships with a diverse top-tier customer base (Global & National Brands and Domestic retail private labels)
3. End to end solutions provider with dedicated research and development capabilities (R&D, Global sourcing, Backward integration, Reverse Logistics)
4. Flexible and cost-effective manufacturing capabilities
5. Strong Financial Performance and stable cash flows
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment/pre-payment, in full or in part, of certain borrowings availed by the Company | 22.00 |
| 2 | Setting up a unit for manufacturing of LED TVs at the Tirupati Facility | 7.58 |
| 3 | Finance the enhancement of the backward integration capabilities in the lighting products vertical at the Dehradun I Facility | 8.86 |
| 4 | Upgradation of the information technology infrastructure of the Company | 10.63 |
| 5 | General corporate purposes | 7.51 |
The Dixon IPO is subscribed 117.83 times on September 8, 2017 5:00:00 PM (Day 3). The public issue subscribed 10.6 times in the retail category, 134.66 times in the QIB category, and 345.61 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 134.66 | 6,79,264 | 9,14,67,464 |
| NII | 345.61 | 5,09,188 | 17,59,82,928 |
| Retail | 10.6 | 11,88,105 | 1,25,90,792 |
| Total | 117.83 | 23,76,557 | 28,00,41,184 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to BRLMs and commission (including underwriting, brokerage and selling) | 16.25 |
| 2 | Selling commission and processing/uploading charges for Members of the Syndicate, RTAs and CDPs | 2.26 |
| 3 | Processing/uploading charges for Registered Brokers | 0.00 |
| 4 | Selling commission and processing fees for SCSBs | 1.57 |
| 5 | Fees payable to Registrar to the Offer | 0.07 |
| 6 | Printing and stationery expenses | 3.79 |
| 7 | Advertising and marketing expenses | 2.83 |
| 8 | Listing fees | 0.50 |
| 9 | SEBI, BSE and NSE processing fees and other regulatory expenses | 2.41 |
| 10 | Fees payable to Legal Counsels | 1.20 |
| 11 | Miscellaneous | 3.30 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹1,766.00 | ₹1,766.00 |
| Open | ₹2,725.00 | ₹2,725.00 |
| Low | ₹2,725.00 | ₹2,725.00 |
| High | ₹3,020.25 | ₹3,024.00 |
| Last Trade | ₹2,892.80 | ₹2,891.55 |
Lead Manager Reports
Dixon Technologies IPO is a main-board IPO of 33,93,425 equity shares of the face value of ₹10 aggregating up to ₹599 Crores. The issue is priced at ₹1766 per share. The minimum order quantity is 8.
The IPO opens on Wed, Sep 6, 2017, and closes on Fri, Sep 8, 2017.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Dixon Technologies IPO using UPI as a payment gateway. Zerodha customers can apply in Dixon Technologies IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Dixon Technologies IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Dixon Technologies IPO opens on Wed, Sep 6, 2017 and closes on Fri, Sep 8, 2017.
Dixon Technologies IPO lot size is 8, and the minimum amount required for application is ₹14,128.
You can apply in Dixon Technologies IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Dixon Technologies IPO will be done on Wednesday, September 13, 2017, and the allotted shares will be credited to your demat account by Fri, Sep 15, 2017. Check the Dixon Technologies IPO allotment status.
The Dixon Technologies IPO listing date is on Mon, Sep 18, 2017.
