Sunil Vachani Sells Stake in Dixon Technologies: A Strategic Business Move

Sunil Vachani, the promoter of Dixon Technologies (India), made a strategic business move by divesting a 2.77 percent stake in the company. The sale, conducted through an open market transaction, amounted to over Rs 2,221 crore, significantly altering Vachani's shareholding in the Noida-based contract manufacturer.

Following the sale, Vachani's stake in Dixon Technologies reduced to 2.57 percent from 5.34 percent. Meanwhile, the acquisition of a 2.39 percent stake by Motilal Oswal Mutual Fund increased its stake to 4.63 percent, showcasing confidence in the company's prospects.

The share transaction took place at an average price of Rs 13,301.47 per share. Consequently, Dixon Technologies' shares experienced a boost, closing at Rs 14,554.10 on the BSE, reflecting a 3.55 percent gain. Underpinning this market response was the company's recent financial performance, with profits soaring dramatically in Q4 FY25.

(With inputs from agencies.)