Dixon Applied sciences (India) Ltd proposal to accumulate a stake in Aditya Infotech Ltd. recieved approval from the Competitors Fee Of India.
Dixon Applied sciences is concerned within the enterprise of offering Digital Manufacturing Companies.
The truthful commerce regulator additionally authorized the acquisition of a stake in AIL Dixon Applied sciences by Aditya Infotech Ltd.
“Fee approves the subscription of sure shares of Aditya Infotech Ltd (AIL) by Dixon Applied sciences (India) Ltd and the acquisition of sure shares of AIL Dixon Applied sciences Pvt Ltd by AIL,” CCI mentioned in a submit on X.
AIL Dixon Applied sciences is a three way partnership between AIL and Dixon Applied sciences India, specializing within the manufacturing and meeting of Vitality Storage Programs (ESS). In Fiscal 2024, the three way partnership achieved a income of Rs 632.62 crore.
Aditya Infotech, an unlisted public firm, focuses on sourcing, distributing, and advertising digital safety programs underneath the model CP Plus. For the monetary yr ending March 2023, it reported a income of Rs 2,298 crore.
In July, Dixon Applied sciences (India) introduced its plans to divest its total 50% stake within the JV firm AIL Dixon Tech to Aditya Infotech.
As a part of the transaction, Dixon mentioned it has signed a share subscription and buy settlement with AIL to accumulate a 6.5% stake within the firm in change for the divestment.
Offers past a sure threshold require clearance from the regulator, that’s meant to police unfair enterprise practices in addition to selling truthful competitors within the market.
(With Inputs From PTI)
