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BRIEF-Dixon Technologies files for IPO
May 19, 2017 / 11:23 AM / 7 months ago

BRIEF-Dixon Technologies files for IPO

May 19 (Reuters) - Dixon Technologies:

* Dixon Technologies files for DRHP with SEBI

* IDFC Bank , IIFL Holdings, Motilal Oswal Investment Advisors,Yes Securities (India) are book running lead managers to IPO

* IPO consists of a fresh issue aggregating INR 600 million and an offer for sale of up to 3.8 million equity shares

* IPO proceeds, among other things, to be used for repaying certain borrowings, set up unit for manufacturing of led TVs at Tirupati facility Source text: [Dixon Technologies (India) Ltd., a consumer electronics and lighting product manufacturer for global and Indian brands, filed its Draft Red Herring Prospectus (DRHP) with the market regulator SEBI for its Initial Public Offering (IPO). The initial public offering consists of a fresh issue aggregating Rs. 600 million and an offer for sale of up to 3,753,739 equity shares. The equity shares will have a face value of Rs. 10 each. The issue will be on book-building basis and the price band to be decided later. The IPO proceeds from the fresh issue will be utilized for repayment/pre-payment, in full or in part, of certain borrowings availed by the Company, setting up a unit for manufacturing of LED TVs at the Tirupati facility, enhancement of backward integration capabilities in the lighting products vertical at Dehradun I facility, upgradation of the information technology infrastructure and general corporate purposes]

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