Dixon Technologies India Ltd. forms JV with Beetel.

Dixon Technologies (India) Limited ("Company"), Beetel Teletech Limited ("Beetel") and Dixon Electro Appliances Private Limited ("Dixon Electro") have entered into a joint venture agreement to form a joint venture company for undertaking the business of manufacture of telecom and networking products, including products that are manufactured in compliance with the 'Production Linked Scheme to Promote Telecom and Networking Products Manufacturing in India' notified by the Ministry of Communications on 24 February 2021 (as amended from time to time) (collectively "Products").

Dixon Electro, presently a wholly-owned subsidiary of the Company, will become the joint venture company. As part of this transaction, Dixon Electro will purchase from Beetel its factory located at Plot Nos 1-4, Rural industrial complex, Humbran Ludhiana-141110, Punjab on a slump sale basis for manufacture of the Products.

The Company does not have any shareholding in Beetel or its group companies. Dixon Electro is a wholly-owned subsidiary of the Company. The proposed shareholding of Dixon Electro (after consummation of the transaction) is - Company: 51% and Beetel: 49%.

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