New Delhi: Original design manufacturer Dixon Technologies, which is going for a Rs700 crore IPO next month, aims to cross Rs5,000 crore turnover in next three-four years banking on opportunities emerging from domestic market and exports.
The Noida-based Dixon is looking to raise Rs700 crore from the initial public offering (IPO), the proceeds of which will be used for expansion of the company, which manufactures appliances like washing machines, LED TV, lighting products and mobile phones.
“We are looking to raise around Rs700 crore. We are targeting the first week of September. We have got the approvals from Sebi for DHRP,” Dixon Technologies CMD Sunil Vachani told PTI.
The IPO would also fund the company’s new plant in Tirupati, Andhra Pradesh, for manufacturing LED TV and LED bulbs besides paying off debt and…