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Dixon's Proposed JV with Vivo Gets India Approval

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Dixon Technologies (India) (NSE:DIXON, BOM:540699) has received approval from the Indian government for its proposed joint venture with the Indian unit of Chinese smartphone maker Vivo Mobile, according to a Thursday filing to the Indian stock exchanges.

On Thursday, Vivo Mobile India received approval from the Indian government on July 8 for the incorporation of the proposed joint venture and subscription of shares in the JV company by Vivo.

The joint ⁠venture, which will be owned 51% ​by Dixon and 49% by ​Vivo Mobile India, will focus on the production of electronic devices, including smartphones. It will also ⁠manufacture ​electronic products for ​other brands, Dixon said.

In December 2024, the two companies entered into a term sheet for the joint venture.

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Dixon's Proposed JV with Vivo Gets India Approval | FINWIRES