Latest News | Dixon Technologies Promoter Sells 2.77 Pc Stake for over Rs 2,221 Cr
Get latest articles and stories on Latest News at LatestLY. Dixon Technologies (India) promoter Sunil Vachani on Monday divested a 2.77 per cent stake in the homegrown contract manufacturer for over Rs 2,221 crore through an open market transaction.
New Delhi, Jun 23 (PTI) Dixon Technologies (India) promoter Sunil Vachani on Monday divested a 2.77 per cent stake in the homegrown contract manufacturer for over Rs 2,221 crore through an open market transaction.
According to the bulk deal data on the BSE, Sunil Vachani, Chairperson of Dixon, offloaded 16.70 lakh shares or a 2.77 per cent stake in Noida-based Dixon Technologies.
The shares were disposed of at an average price of Rs 13,301.47 apiece, taking the deal value to Rs 2,221.34 crore.
Following the stake sale, Vachani's stakeholding in Dixon reduced to 2.57 per cent from 5.34 per cent. The combined holding of Dixon Tech's promoters also declined to 29.5 per cent from 32.27 per cent.
Meanwhile, Motilal Oswal Mutual Fund acquired 14.45 lakh shares in two tranches, amounting to a 2.39 per cent stake in Dixon Technologies for Rs 1,924 crore.
The shares were purchased at an average price of Rs 13,307.96 apiece, taking the deal size to Rs 1,923.84 crore.
After the stake buy, Motilal Oswal Mutual Fund's holding in Dixon Technologies rose to 4.63 per cent from 2.24 per cent.
Details of the other buyers of Dixon Technologies could not be ascertained on the exchange.
Shares of Dixon Technologies (India) rose 3.55 per cent to close at Rs 14,554.10 per piece on the BSE.
Last month, electronics manufacturing services company Dixon Technologies (India) reported an over four-fold jump in consolidated net profit to Rs 464.95 crore in the fourth quarter ended March 31, 2025, riding on robust revenue growth.
The company had posted a consolidated net profit of Rs 97.3 crore in the corresponding quarter of the previous fiscal.
Its consolidated revenue from operations stood at Rs 10,292.54 crore compared to Rs 4,657.97 crore in the year-ago quarter, the company said.
In FY25, its consolidated net profit was Rs 1,232.58 crore against Rs 374.92 crore in FY24. The company's consolidated revenue from operations in FY24 stood at Rs 38,860.1 crore from Rs 17,690.9 crore in FY24, it added.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)