Dixon Tech incorporates new subsidiary Dixon Devices for business purpose

Dixon Devices Private Limited has been incorporated as the Wholly Owned Subsidiary (WOS) of Dixon Technologies (India) Limited for business purposes. Equity shares have been subscribed by the company at a face value of Rs10 each for consideration of Rs1 lakh.

“The Wholly Owned Subsidiary has been incorporated with an object to manufacture inter-alia consumer durables, devices, Home appliances etc. The date of incorporation of Wholly Owned subsidiary is May 15, 2021 and has been incorporated in India. Considering the aforesaid, the acquired entity has presence information related to turnover is not applicable,” company said in a filing on Tuesday.

At around 11.45 am, Dixon Technologies (India) Ltd was trading at Rs4,501.80 per piece down by Rs107 or 2.32% from its previous closing of Rs4,608.80 per piece on the BSE. India Infoline