Dixon Technologies (India) has signed a binding term sheet with Signify Innovations India to establish a joint venture focused on manufacturing lighting products and accessories. The JV will operate as an original equipment manufacturer (OEM), catering to the growing demand for lighting solutions.

As part of the agreement, Signify will acquire a 50 percent stake in the joint venture through a cash consideration. Both companies will each hold a 50 percent stake in the equity share capital. According to an exchange filing, Dixon Technologies will acquire its 50 percent stake in the JV by transferring its lighting business—including its entire shareholding in its subsidiary, Dixon Technologies Solutions, to the JV.

This collaboration aims to leverage Dixon’s manufacturing expertise and Signify’s technological leadership in lighting to expand production capabilities in India. The move aligns with both companies’ growth strategies in the fast-evolving electronics and lighting sectors. Further details regarding operational timelines and facility locations are expected to be announced in subsequent stages of the partnership.