Motilal Oswal-managed fund invests Rs 40cr in Dixon Tech
The Motilal Oswal-managed India Business Excellence Fund has invested Rs 40 crore in Dixon Technologies India to help the consumer durable manufacturing firm expand its existing production facilities and set up a new unit.
By PTI |
Mumbai: The Motilal Oswal-managed India Business Excellence Fund has invested Rs 40 crore in Dixon Technologies India to help the consumer durable manufacturing firm expand its existing production facilities and set up a new unit.
The fund would also be used to expand Dixon's existing manufacturing capacities at Dehra Dun, Noida and Mohali. Besides, it would also be used to set up a new unit near Chennai to cater to southern India, a release issued here today stated.
Dixon makes a range of consumer durables and appliances including digital TVs, set top boxes etc for domestic and global brands that are sold under its own 'Weston' brand.
The company has been growing at a CAGR of 35 pc over the past four years, the release said.
Dixon's Chairman and Managing Director Sunil Vachani said, "We had received interest from several investors but the team at Motilal Oswal Venture Capital Advisors echoed our vision of the road ahead for Dixon and backed it up with their wholehearted support."
Motilal Oswal's Chairman Raamdeo Agarwal said the decision to invest in Dixon was influenced by its management's commitment towards cost-efficient manufacturing while maintaining the highest quality standards.
The fund provides capital for growth to SMEs, in the range of USD 5-15 mn, across all sectors.
The fund would also be used to expand Dixon's existing manufacturing capacities at Dehra Dun, Noida and Mohali. Besides, it would also be used to set up a new unit near Chennai to cater to southern India, a release issued here today stated.
Dixon makes a range of consumer durables and appliances including digital TVs, set top boxes etc for domestic and global brands that are sold under its own 'Weston' brand.
The company has been growing at a CAGR of 35 pc over the past four years, the release said.
Dixon's Chairman and Managing Director Sunil Vachani said, "We had received interest from several investors but the team at Motilal Oswal Venture Capital Advisors echoed our vision of the road ahead for Dixon and backed it up with their wholehearted support."
Motilal Oswal's Chairman Raamdeo Agarwal said the decision to invest in Dixon was influenced by its management's commitment towards cost-efficient manufacturing while maintaining the highest quality standards.
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Motilal Oswal Venture Capital Advisors is a 100 pc arm of Motilal Oswal Financial Services (MOFSL), a diversified financial services group with businesses in securities, investment banking and venture capital. MOFSL launched the India Business Excellence Fund, a USD 125 mn India-focused private equity fund managed by Motilal Oswal Venture Capital.The fund provides capital for growth to SMEs, in the range of USD 5-15 mn, across all sectors.
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