Dixon Technologies’ shares rise sharply on reports that the government is likely to clear the long-pending Dixon–Vivo joint venture this month. According to sources cited by The Economic Times (India), an inter-ministerial panel has already given in-principle approval, and the deal is expected to be cleared by MeitY after due process. The joint venture was signed in December 2024, with Dixon Technologies set to hold a 51% stake as the majority shareholder.
The joint venture is expected to focus on manufacturing electronic devices, including smartphones. Vivo’s Noida manufacturing unit is likely to be included, which may reduce Vivo’s risk exposure to India. The Noida facility is expected to take on part of Vivo’s smartphone OEM orders in India and also undertake OEM/contract manufacturing for other electronic products and brands.
NDTV reports that the approval could be financially significant for Dixon, with management indicating an opportunity that could translate into annual production of about 20–22 million units and revenue potential of around Rs 30,000 crore. The reported figures are expectations linked to the JV’s clearance.
