Foxconn’s Bharat FIH is India’s largest EMS provider to the mobile phone industry, with a 23 per cent market share in FY 2021
Bharat FIH, a subsidiary of Foxconn group, has filed its draft red herring prospectus (DRHP) for its initial public offering (IPO). The Rs 5,004-crore IPO comprises a fresh issue of Rs 2,502 crore and an offer for sale (OFS) of Rs 2,502 crore. The offer for sale is by its promoter, Wonderful Stars.
Wonderful Stars and FIH Mobile are its promoters, its prospectus stated. Wonderful Stars, together with its nominees, holds 99.97 per cent of the company’s shares. FIH Mobile does not directly hold any shares in Bharat FIH. But it owns Wonderful Stars through its subsidiaries. As of September 30, 2021 Foxconn held 63.43 per cent of the share capital of FIH Mobile. Kotak Investment Banking, Citigroup Global Markets India, BNP Paribas and HSBC Securities and Capital Markets India are the bankers to the issu
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