IBEF invests Rs 400 million in Dixon
Mumbai, Jun 18 (UNI) India Business Excellence Fund (IBEF), advised and managed by Motilal Oswal Venture Capital Advisors Pvt Ltd (MOVCAPL) has invested Rs 400 million in Dixon Technologies India Private Limited (Dixon), one of the country's largest homegrown Electronics Manufacturing Services (EMS) companies, growing at a CAGR of 35 per cent over the past 4 years.
The investment will be utilized to expand the Company's existing manufacturing facilities at Dehradun, Noida and Mohali and to set up a new facility near Chennai, to service the requirements of the south zone.
Dixon is into manufacturing of a wide range of consumer durables and appliances, including digital TVs, DVD players, air conditioners, microwave ovens and digital cable set top boxes, for many prominent domestic and international brands besides selling under its own 'Weston' brand. Dixon is also foraying into design and manufacturing of new, high technology product lines and the investment secured will support the Company in its growth plans.
Commenting
on
the
investment,
Dixon
CMD
Sunil
Vachani
said,
''We
had
received
interest
from
several
investors,
but
the
team
at
MOVCAPL
echoed
our
vision
of
the
road
ahead
for
Dixon
and
backed
it
up
with
their
wholehearted
support.''
Meanwhile,
Mr
Raamdeo
Agrawal,
Chairman
of
MOVCAPL
said,
''The
decision
to
invest
in
Dixon
was
influenced
by
its
management's
commitment
to
cost
efficient
manufacturing,
while
maintaining
the
highest
quality
standards.
There
is
tremendous
market
potential
for
products
such
as
consumer
electronics
and
durables.
We
believe
that
Dixon
will
be
at
the
forefront
of
the
opportunity.''
UNI
AR
SR
SKB1530