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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 ₹1766.00 per share . The lot size for an application is 8. The minimum amount of investment required by an retail is ₹14,080 (8 shares). 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 Date | September 6, 2017 to September 8, 2017 |
| Listing Date | September 18, 2017 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹1760 to ₹1766 per share |
| Issue Price Final | ₹1766 per share |
| Lot Size | 8 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 33,93,425 shares (aggregating up to ₹599.28 Cr) |
| Fresh Issue | 3,39,750 shares (aggregating up to ₹60.00 Cr) |
| Offer for Sale | 30,53,675 shares of ₹10 (aggregating up to ₹539.28 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 1,09,85,341 shares |
| Share Holding Post Issue | 1,13,25,091 shares |
Dixon IPO offers total 33,93,425 shares. Out of which 16,96,712 (50.00%) allocated to QIB, 6,78,685 (20.00%) allocated to QIB, 5,09,014 (15.00%) allocated to NII, 11,87,699 (35.00%) allocated to RII and 10,18,027 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum 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%) |
Dixon Technologies IPO opens on September 6, 2017, and closes on September 8, 2017.
| IPO Open Date | Wed, Sep 6, 2017 |
| IPO Close Date | Fri, Sep 8, 2017 |
| Tentative Allotment | Wed, Sep 13, 2017 |
| Initiation of Refunds | Thu, Sep 14, 2017 |
| Credit of Shares to Demat | Fri, Sep 15, 2017 |
| Tentative Listing Date | Mon, Sep 18, 2017 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Sep 8, 2017 |
Investors can bid for a minimum of 8 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
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
| Particulars | For the year/period ended (in Rs. million) | |||||
|---|---|---|---|---|---|---|
| 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | 31-Mar-13 | ||
| Total Assets | 5,078.93 | 3,276.76 | 2,831.13 | 2,677.00 | 2,594.41 | |
| Total Revenue | 16,456.62 | 12,536.54 | 11,168.18 | 10,650.15 | 7,262.33 | |
| Profit After Tax | 464.81 | 364.00 | 98.13 | 109.65 | 19.33 | |
The Company Dixon Technologies IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 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 |
[Dilip Davda] Considering last two fiscals performance and the growth in the segments of the company’s operations, risk savvy investors may consider moderate investment for medium to long term in this fully priced issue. Read detail review...
| Listing Date | September 18, 2017 |
| BSE Script Code | 540699 |
| NSE Symbol | DIXON |
| ISIN | INE935N01012 |
| Final Issue Price | ₹1766 per share |
| BSE Listing Group | B |
Dixon Technologies (India) Ltd.
B-14 & 15, Phase-II,
Noida,
Gautam Buddha Nagar, 201 305
Gautam Buddha Nagar, Uttar Pradesh
Phone: +91 120 473 7200
Email: investorrelations@dixoninfo.com
Website: http://www.dixoninfo.com/
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: einward.ris@karvy.com
Website: https://ipostatus.kfintech.com/
Dixon Technologies IPO is a main-board IPO of 33,93,425 equity shares of the face value of ₹10 aggregating up to ₹599.28 Crores. The issue is priced at ₹1766 per share. The minimum order quantity is 8.
The IPO opens on September 6, 2017, and closes on September 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 September 6, 2017 and closes on September 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 Friday, September 15, 2017. Check the Dixon Technologies IPO allotment status.
The Dixon Technologies IPO listing date is on Monday, September 18, 2017.
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