JSA has successfully advised Ismartu India Private Limited (“Ismartu India”) and its shareholders, including Ismartu Singapore, Transsion Technology Ltd, and 5A Advisors LLP, in the acquisition of a controlling stake by Dixon Technologies (India) Limited.
This transaction, set to occur in two phases, represents a significant move in the electronics manufacturing sector.
Transaction Details
The acquisition will unfold in two tranches. In the first tranche, Dixon Technologies will acquire a 50.01% stake in Ismartu India for approximately INR 2.38 billion, paid entirely in cash. In the second tranche, Dixon will further acquire an additional stake ranging from 1.60% to 5.90% on a fully diluted basis. The completion of this transaction is contingent upon meeting certain conditions precedent and obtaining approval from the Competition Commission of India.
Role of JSA
JSA provided comprehensive support to Ismartu India throughout the acquisition process. This included regulatory consultation, structuring the deal, and drafting and negotiating transaction documents.
JSA’s Advisory Team
- Transaction Team:
- Kartik Jain (Partner)
- Saumya Sahai (Senior Associate)
- Anmol Mahajan (Associate)
- Alisha Chawla (Company Secretary)
- Competition Law Team:
- Vaibhav Choukse (Partner)
- Ela Bali (Partner)
- Faiz Siddiqui (Associate)
Advisory Team for Dixon Technologies
Dixon Technologies was represented and advised by Cyril Amarchand Mangaldas.
Ismartu India is the manufacturing arm of Transsion Holdings, a global leader in mobile phone manufacturing. Transsion Holdings ranks among the top five smartphone makers worldwide. Ismartu India has established itself as a key player in India’s electronics manufacturing sector, boasting a turnover of approximately INR 62.35 billion as of March 31, 2023.
Dixon Technologies (India) Limited is a prominent player in the electronics manufacturing services (EMS) industry. The company provides design-focused solutions in consumer durables, lighting, mobile phones, and security devices. Dixon Technologies is known for its robust manufacturing capabilities and strategic partnerships, making it a leader in the EMS landscape in India.
This acquisition marks a significant step in consolidating Dixon Technologies’ position in the mobile phone manufacturing industry while enhancing Ismartu India’s capabilities and market reach.
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