Dixon Technologies Sets Up Subsidiary for Vivo Smartphone OEM
Dixon Technologies is incorporating Adivistar Electronics India Pvt Ltd to run its OEM electronics business, including smartphones, and will hold 51% equity. The company will invest Rs 2.55 crore via cash, acquiring 25.5 lakh shares at Rs 10 each. MeitY has approved Vivo Mobile India’s investment, clearing the JV expected to lift Dixon’s mobile production capacity; revenue is expected to start reflecting in the Oct–Dec quarter.