Dixon Technologies signs joint venture deal with Signify India for OEM lighting business

Dixon Technologies (India) Ltd has signed a binding term sheet with Signify Innovations India Ltd, a leading player in the lighting segment, to establish a 50:50 joint venture for manufacturing lighting products and accessories. The JV will focus on undertaking OEM (Original Equipment Manufacturing) orders, including a portion of Signify’s existing OEM business in India as well as catering to other brands.

As part of the arrangement:

• Dixon will transfer its lighting business, including shares of its subsidiary Dixon Technologies Solutions Pvt Ltd, to the JV.
• Signify will infuse cash into the JV, which will be used to acquire its LED manufacturing operations.

The proposed JV aligns with the Make in India initiative and aims to boost domestic manufacturing capabilities in lighting technology. Both companies will hold equal ownership, and neither will hold stake in the other.