Padget Electronics Bags Lenovo’s Manufacturing Contract

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The agreement resulted from the companies being selected for GoI’s PLI 2.0 scheme.

Padget electronics private limited, a wholly owned subsidiary of electronics manufacturing firm Dixon Technologies India Ltd, has entered into a manufacturing contract with global technology giant Lenovo. This positions Padget as chosen manufacturing partner for Lenovo’s IT hardware especially notebooks and laptops.

The agreement will be finalised by signing a definitive agreement. Terms of the contract entrust Padget Electronics with the responsibility of manufacturing Lenovo’s IT hardware. This strengthens India’s position in the global technology manufacturing landscape. This agreement resulted from Lenovo’s participation in Government of India’s production linked incentive PLI 2.0 scheme in which both Lenovo and Dixon were selected.

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“…we wish to inform that Padget Electronics Private Ltd, wholly owned subsidiary of Dixon Technologies (India) Limited, has been awarded manufacturing contract by Lenovo for manufacturing of IT Hardware products i.e. Laptops and Notebooks under Production Linked Incentive 2.0 Scheme,” Dixon Technologies said in a regulatory filing.

Dixon Technologies (India) Ltd shares ended at ₹6,372.15, increased by ₹407.30, or 6.83%, on the Bombay Stock exchange (BSE).

Padget Electronics Private Limited, established on June 10, 2013, operates as a private unlisted company and is not government-owned. This company is categorised as ‘company limited by shares’. The authorised capital of the company is set at Rs 1600.0 lakhs, with 93.75% of this amount, or Rs 1500.0 lakhs, being paid-up capital. The most recent Annual General Meeting (AGM) of Padget Electronics Private Limited was conducted on August 14, 2018. According to the Ministry of Corporate Affairs (MCA), the company’s financials were last updated on March 31, 2018.

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