Dixon Technologies (India) Limited, India’s leading electronics manufacturing services provider, today announced that it has entered into a Term Sheet with HKC Corporation Limited to establish a joint venture company. The proposed JV will engage in the manufacturing and supply of Liquid Crystal Modules (LCM) for the Indian market and select global customers. This strategic collaboration will combine HKC’s advanced technological expertise and global leadership in display solutions with Dixon’s proven execution capabilities and strong presence in India’s electronics manufacturing ecosystem.
As part of the proposed joint venture, HKC Corporation Limited will acquire equity shares representing 26% of the paid-up share capital of DDTPL on a fully diluted basis. Dixon Technologies (India) Limited will, in turn, acquire equity shares representing 74% of the paid-up share capital of DDTPL on a fully diluted basis. This structure reflects the strategic collaboration between the two partners in building a strong manufacturing platform for Liquid Crystal Modules in India.
The precise number of shares to be subscribed by both HKC and the Company will be determined on the basis of the fair value of DDTPL’s shares, as established through a valuation report. This valuation will be carried out in compliance with Rule 21 of the Foreign Exchange Management (Non-Debt Instruments) Rules, 2019, ensuring transparency and adherence to regulatory requirements.
The aggregate investment by HKC and the Company in DDTPL, under the proposed transaction, will be equivalent to a pre-agreed amount in U.S. dollars, translated into Indian rupees at the time of completion. This investment framework underscores the commitment of both parties to foster long-term growth and innovation in India’s display technology manufacturing ecosystem. The JV is subject to the execution of definitive agreements and applicable regulatory approvals. Further details, including shareholding structure and investment plans, will be disclosed in due course.
Dixon Technologies (India) Limited is the largest home-grown design and manufacturing company in India, offering a comprehensive array of consumer electronics, home appliances, lighting, mobile phones, security systems, and display solutions. With a pan-India presence and state-of-the-art facilities, Dixon partners with leading global and domestic brands to deliver world-class products.
HKC Corporation Limited is a leading global manufacturer of display technologies, with expertise in TFT-LCD panels, liquid crystal modules, and integrated display solutions. With advanced R&D and a strong global footprint, HKC is committed to driving innovation and delivering high-quality display products worldwide.
