Dixon Technologies lists at 54% premium to issue price on BSE

Consumer electronics manufacturer Dixon Technologies listed with a 54 per cent premium on the BSE today. The firm made a stellar listing at Rs 2725, compared to the issue price of Rs 1766.

The IPO received huge response from the investors from Septmber 6 to September 8.  Earlier, Dixon Technologies raised nearly Rs 180 crore from anchor investors. The company fixed the price band at Rs 1,760-1,766.

The offer comprised fresh issue aggregating up to Rs 60 crore shares besides an offer for sale of up to 30,53,675 shares by certain existing shareholders.

Proceeds from the issue would be utilised for setting up a unit for manufacturing LED TVs at its Tirupati facility, enhancement of backward integration capabilities in the lighting products vertical at Dehradun facility and upgrade of the information technology infrastructure.

It would also be used for repayment of loans and for general corporate purposes. IDFC Bank, IIFL Holdings, Motilal Oswal Investment Advisors and Yes Securities were the book running lead managers to the issue.