SEBI nod for Foxconn’s ₹5,000 cr IPO to India FIH

Author: Nishu June 13, 2022 SEBI nod for Foxconn's ₹5,000 cr IPO to India FIH

Bharat FIH, a subsidiary of FIH Mobiles and Foxconn Technology Group, has received capital markets regulator SEBI’s nod to raise Rs 5,000 crore through an initial public offering (IPO).

According to the draft red herring prospectus (DRHP), the initial share-sale of Bharat FIH includes fresh issue of shares worth ₹ 2,502 crore and an offer for sale of up to ₹ 2,502 crore by the promoter group and Foxconn unit Wonderful Stars.

India FIH manufactures devices for Xiaomi and Nokia.

The company, which filed its initial IPO papers with Sebi in December 2021, received its comments on June 10, showed an update with the market regulator on Monday.

In the parlance of SEBI, its comments imply that the IPO has to go ahead.

As per the draft papers, the proceeds of the new issue will be used to finance the company’s capital expenditure requirements for expansion of its existing premises, investment in the subsidiary, RSHTPL, working capital requirements and to support general corporate objectives.

At present, Wonderful Stars holds 99.97% stake in the company.

Bharat FIH, formerly Rising Stars Mobile India, is the largest Electronic Manufacturing Services (EMS) provider in India with a market revenue share of around 15% in FY21.

In addition to EMS services, the company is building capabilities to provide Original Equipment Manufacturers (OEMs) a comprehensive, vertically integrated “one-stop solution” with a range of Original Design Manufacturer (ODM) services, including product design and development is included. Component manufacturing and sourcing, logistics, and after-sales services.

The company is also expanding its business into high-growth industries other than mobile phones, including mechanics, electric vehicles, television and wearables.

Author: Nishikant

My name is Nishikant, I work as Sub Editor at

13 June, 2022, 6:26 pm

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Monday, 13th June 2022

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