Foxconn's Indian unit Bharat FIH files for an IPO
By MYBRANDBOOK
Bharat FIH, the domestic arm of Hong Kong-listed FIH Mobile Ltd, filed for an initial public offering worth Rs 5,000 crore. Bharat FIH is one of the top domestic electronic manufacturing services companies in the country.
The IPO will consist of an offer for sale of Rs 2,500 crore as well as a fresh issue of the same amount. The proceeds from the IPO will be used for working capital requirements, general corporate purposes, funding capital expenditure requirements towards upgrading and expanding existing campuses and investing in subsidiary RSHTPL for financing its capital expenditure needs.
The draft prospectus of the company filed before SEBI states that it has been expanding into industries other than mobile phones, with a focus on high-growth industries such as electric vehicles mechanics, televisions, and hearables.
The company offers end-to-end components and manufacturing and engineering services to its customers in respect of handsets, other wireless communication devices and consumer electronic products.
Bharat FIH conducts its operations in three campuses based in Tamil Nadu and Andhra Pradesh, with a total of 94 production lines, 35 assembly lines, 30 sub-assembly lines and 29 surface mount technology lines integrating logistics, manufacturing, warehousing and accommodation facilities.
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