Dixon acquires 56% stake in Ismartu India

(20 second reading) Dixon Technologies Ltd. has signed a share purchase agreement with Ismartu In Pte. Ltd.an Indian unit of Ismartu Singapore, to acquire up to 56% equity in the latter in two tranches.

The first tranche will see Dixon acquire 1.38 crore equity shares of Ismartu India Pvt. Ltd. or 50.1% of the total equity. Out of this, 1.34 crore shares will be acquired from Ismartu In Pte Ltd., 51,832 equity shares will be acquired from Transsion Technology Ltd. and 3.46 lakh equity shares will be acquired from 5A Advisors LLP. It will spend a total amount of Rs.238.36 crore to acquire these shares.