The Company and Rexxam have entered into a joint venture agreement to form a joint venture company for undertaking the business of manufacture of Printed Circuit Boards for Air-Conditioners (PCBA) for domestic and international market. The JV Company has received approval under PLI scheme of Government of India under White Goods category and in accordance with the same, it will undertake manufacturing of Printed Circuit Boards for Air-Conditioners (PCBA) for the domestic and international market.

The company will hold 40% while Rexxam will hold 60% in the share capital of Dixon Devices.