Motilal Oswal fund invests Rs 40cr in Dixon Tech

It would also be used to set up a new facility near Chennai to service the requirements of the south zone, a press release issued here today stated.        

Dixon is into manufacturing a wide range of consumer durables and appliances including digital TVs, DVD players, air-conditioners, microwave ovens and digital cable set-top boxes, for many prominent domestic and international brands selling under its own 'Weston' brand.        

The company has been growing at a CAGR of 35 per cent over the past four years, the release said.        

Dixon's Chairman and Managing Director, Sunil Vachani, said, "We had received interest from several investors but the team at Motilal Oswal Venture Capital Advisors echoed our vision of the road ahead for Dixon and backed it up with their wholehearted support."        

Motilal Oswal's Chairman, Raamdeo Agarwal, said that the decision to invest in Dixon was influenced by its management's commitment to cost-efficient manufacturing while maintaining the highest quality standards.