No update on proposed Vivo India JV, says Dixon Tech on stock movement
This story was originally published at 15:42 IST on 17 June 2026
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NEW DELHI – Dixon Technologies (India) Ltd. Wednesday said there has been no further development in its proposed joint venture with vivo Mobile India Pvt. Ltd., adding that the required regulatory approvals for the deal are still awaited. The clarification came after the stock exchanges sought details on a media report regarding the proposed venture, as mentioned in the Exchange filing.
On Tuesday, Press Trust of India reported that the government was likely to approve the long-pending joint venture between Dixon Technologies and vivo India later this month, a move that could reduce the Chinese smartphone maker's regulatory risk in India. Following the report, shares of Dixon Technologies rose 5% Wednesday.
The company said there was no material information that has not already been disclosed to the stock exchanges and that could explain the recent movement in its share prices.
Dixon Technologies said it had signed a binding term sheet with vivo India in December 2024 to establish a joint venture to manufacture electronic devices, including smartphones. However, the transaction is subject to regulatory approvals and other conditions. In the joint venture, Dixon Technologies will hold 51% of the share capital and vivo India will hold 49% of the share capital. Neither Dixon nor vivo India will have any stake in each other.
For the quarter ended March, Dixon Technologies reported consolidated net profit of INR 2.56 billion on revenue of INR 105.11 billion. At IST 1427, shares of the company traded almost 4% higher at INR 12,738 on the National Stock Exchange. End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Gunjan Rajput
Edited by Akul Nishant Akhoury
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