Mumbai, March 27 -- According to an exchange filing, Dixon and Signify disclosed that the JV will operate as an original equipment manufacturer (OEM) for lighting products and accessories in India. Both companies will hold an equal 50% stake in the venture, which is yet to be incorporated. Neither company will have an ownership stake in the other.

The parties will agree on the detailed provisions for setting up the JV entity, its governance, transaction valuation, and other terms and conditions in the definitive agreements. The transaction will be subject to the execution of these agreements, completion of customary conditions precedent, and receipt of applicable regulatory approvals, if required.

The JV company is yet to be incorporate...