JSA represented Ismartu India Private Limited (“Ismartu India”) and its shareholders Ismartu Singapore, Transsion Technology Ltd, and 5A advisors LLP in the sale of its controlling stake to Dixon Technologies (India) Limited. The transaction will take place in two tranches. In Tranche 1, Dixon will acquire a 50.01% stake for approximately INR 2.38 billion in an all-cash deal. Thereafter, in Tranche 2 Dixon will acquire additional stake ranging from 1.60% to 5.90% of Ismartu India on a fully diluted basis. The transaction is subject to the satisfactory completion of the conditions precedent and requires approval from the Competition Commission of India.
Ismartu India is the manufacturing unit of the mobile phone manufacturer Transsion Holdings, which is a leading player in the global mobile phone manufacturing industry, ranking among the top five smartphone makers and sellers globally. Ismartu India Private Limited is a dominant player in the electronics manufacturing segment in India, with a turnover of approximately INR 62.35 billion as of March 31st, 2023.
JSA provided end-to-end assistance to the client in the acquisition process, covering regulatory consultation, structuring, drafting, and negotiation of transaction documents.
Dixon Technologies was advised and assisted by Cyril Amarchand Mangaldas.
Our Transaction Team Comprised Partner – Kartik Jain, Senior Associate – Saumya Sahai, Associate – Anmol Mahajan and Company Secretary – Alisha Chawla.
Our Competition Law Team Comprised Partner – Vaibhav Choukse, and Ela Bali, and Associate – Faiz Siddiqui.
Alisha has extensive experience in handling day-to-day secretarial compliance of the companies incorporated in India particularly having foreign investments, downstream investments, etc. She has hands on experience in Company Law compliances along with the FEMA compliances.