Dixon Technologies stock in focus on JV update with Vivo India 

Dixon Technologies shares are in focus today, after the company announced the signing of definitive agreements with Vivo Mobile India Pvt. Ltd. (VMI) to set up a joint venture for manufacturing electronic devices, including smartphones, in India.

In a regulatory filing, Dixon Technologies said it has entered into a Joint Venture Agreement (JVA) with Vivo Mobile India to incorporate a new joint venture company that will undertake the original equipment manufacturer (OEM) business for electronic devices, including smartphones. The formation of the venture is subject to the fulfilment of customary conditions precedent.

The company has also executed a Shareholders' Agreement (SHA) with Vivo Mobile India, outlining the rights and responsibilities of both partners, as well as the governance, management and operational framework of the proposed joint venture following its incorporation.

Dixon Technologies said Vivo Mobile India has received approval from the Government of India under Press Note 3 of 2020 issued by the Department for Promotion of Industry and Internal Trade (DPIIT). The approval, granted on July 8, 2026, permits the incorporation of the joint venture company and allows Vivo India to subscribe to equity shares in the new entity.

Under the agreed ownership structure, Dixon Technologies will hold a 51% stake in the joint venture, while Vivo Mobile India will own the remaining 49%. The company clarified that the arrangement does not involve any cross-shareholding between Dixon Technologies and Vivo outside the joint venture.

The latest development builds on the companies' earlier announcement made in December 2024, when Dixon Technologies had signed a non-binding term sheet with Vivo Mobile India to evaluate the formation of a joint venture for smartphone manufacturing in the country.

Commenting on the partnership, Dixon Technologies said the collaboration is expected to enhance its manufacturing capabilities and execution strengths while deepening its presence in India's Android smartphone ecosystem. The company added that the venture aligns with its long-term strategy of expanding its electronics manufacturing footprint and strengthening its position in the fast-growing smartphone segment.