Dixon Technologies (India) Ltd. has acquired a 100% stake in Dixtel Infocom Pvt.
The electronics manufacturer bought shares of Dixtel for a cash consideration of Rs 1 lakh, as per an exchange filing on Thursday. The subscription amount was paid on Nov. 1.
Dixtel has been incorporated as a wholly-owned subsidiary of Dixon Technologies as of Sept. 20, it said.
"The wholly-owned subsidiary has been incorporated with an object to undertake electronic manufacturing services and wholesale/trading of electronic equipments thereof," the filing said.
Shares of Dixon Technologies closed 2.62% higher at Rs 5,315.85 apiece, as compared with a 0.77% rise in the benchmark BSE Sensex.
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