Dixon Technologies (India) Limited (NSEI:DIXON) agreed to acquire 50.1% stake in Ismartu India Private Limited from Ismartu In Pte. Limited, 5A Advisors LLP and Transsion Technology Limited for INR 2.4 billion on April 8, 2024. The consideration consists of INR 2.4 billion in cash.

As part of the consideration, 2.4 billion was paid towards common equity. The deal is subject to the approval of Competition Commission of India and subject to preclosing and post post-closing adjustments in accordance with the terms of the Share Purchase Agreement. The transaction is to be completed within 90 days from the date of execution of the Share Purchase Agreement.

Kartik Jain, Saumya Sahai, Anmol Mahajan and Alisha Chawla of J. Sagar Associates acted as legal advisor to Ismartu In Pte. Limited, 5A Advisors LLP and Transsion Technology Limited and Cyril Amarchand Mangaldas acted as legal advisor to Dixon Technologies on the transaction.