Dixon Technologies to acquire majority stake in mobile devices maker Ismartu India

Economic Times  

Publicly listed contract manufacturer Dixon Technologies (India) will acquire 50.10% stake in Noida-based Ismartu India, a firm engaged in electronics and mobile devices manufacturing, in an all-cash deal.While the Tranche I shares will be acquired by Dixon for INR 238.36 crore, Tranche II shares will be acquired by the company in 2026-27 for an aggregate consideration which shall be determined on the basis of a valuation of 20 times of profit after tax of Ismartu India for FY 2025-26.Ismartu, which operates under brand names of 'Itel', 'Infinix' & 'Tecno' has three manufacturing facilities in Noida and is among market leaders in feature phones categories in India. For FY23, Ismartu India had reported a turnover of INR 6,235 crore.

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