Showing posts with label Foxconn. Show all posts
Showing posts with label Foxconn. Show all posts

Sunday, 9 January 2022

Foxconn India iPhone plant to reopen on January 12: Govt officials

 The Foxconn plant, located in the state of Tamil Nadu, was closed on Dec. 18 following protests over 250 of its workers being treated for food poisoning

Foxconn

Apple Inc supplier Foxconn will reopen an iPhone manufacturing facility in southern India on Wednesday with 500 workers, government officials and a legislator in the region where the plant is located told Reuters. The Foxconn plant, in the town of Sriperumbudur near the Tamil Nadu state capital of Chennai, employed about 17,000 people but was closed on Dec. 18 after protests over 250 of its workers who fell sick with food poisoning.

Apple has since placed the factory on probation after discovering that some dormitories and dining rooms did not meet required standards. Foxconn and Apple did not immediately respond to a request for comment. K Selvaperunthagai, a member of the state assembly for the area, said the Tamil Nadu Chief Minister M K Stalin told the assembly late on Friday the plant would reopen on Wednesday with 500 workers.

Government officials have said Foxconn intended to resume production gradually but have not said when the full workforce would be back on the job. Foxconn has been making the iPhone 12 and testing production of the iPhone 13 at the Sriperumbudur facility, its only plant in India, government officials have said. Apple has eight other suppliers in India.

Wednesday, 22 December 2021

Foxconn's India subsidiary Bharat FIH files for Rs 5,000-crore IPO

 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

IPO

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

14th BRICS summit to review current global issues, reach key agreements

  At the   14th BRICS summit   which is to be hosted by China in a virtual mode on 23-24 June, the member nations will review the current gl...