Dixon Technologies (India) Ltd and Signify Innovations India Ltd. have signed an agreement to form a new company focused on the manufacturing of lighting products and accessories in India. The new venture will operate as an original equipment manufacturer (OEM) and is expected to be established by November 30, 2025, pending regulatory and contractual approvals.
The joint venture will be owned equally by both parties. However, each company will contribute in different ways. Dixon will transfer its current lighting business—including full ownership of its subsidiary, Dixon Technologies Solutions Pvt. Ltd (DTSPL)—into the new venture. This transfer will be done without cash exchange.
Signify will invest capital into the venture to acquire its 50% ownership. The combined value of contributions from both sides will be assessed by independent valuation as per regulatory requirements. Both companies will maintain equal board representation until the transaction is finalized.
The new business will operate as a standalone company based in India. Neither Dixon nor Signify will hold shares in one another outside the joint venture structure. The companies previously signed a binding term sheet on March 27, 2025, outlining the partnership details.
This agreement supports Dixon’s broader plan to grow its presence in India’s lighting manufacturing sector. The partnership combines Dixon’s production capacity and operational experience with Signify’s expertise in lighting design and technology. The goal is to strengthen supply capabilities and improve responsiveness to both domestic and export markets in the lighting category.
Dixon Technologies is a prominent Indian electronics manufacturing services (EMS) provider, catering to diverse sectors such as consumer electronics, home appliances, lighting, and mobile phones. With a robust infrastructure, the company delivers end-to-end solutions, including product design, manufacturing, and after-sales services. Headquartered in Noida, Dixon has played a pivotal role in supporting India’s “Make in India” initiative, contributing significantly to domestic manufacturing and reducing import dependency. Its commitment to innovation, quality, and operational excellence has made it a trusted partner for global and Indian brands, reinforcing its leadership in the EMS space.
