Foxconn’s Bharat FIH gets SEBI’s approval for IPO
- Jun 18, 2022, 02.45 PM
- DealMoney News Service
Bharat FIH, a subsidiary of FIH Mobiles and a Foxconn Technology Group company, has received capital markets regulator Sebi's approval to raise Rs 5,000 crore through an Initial Public Offering (IPO), according to reports.
Reports said that the initial share-sale of Bharat FIH comprises fresh issue of shares worth Rs 2,502 crore and an offer for sale of up to Rs 2,502 crore by promoter group and Foxconn unit Wonderful Stars, according to the Draft Red Herring Prospectus (DRHP).
The proceeds of fresh issue will be used for funding capital expenditure requirements of the company towards expansion of its existing campuses, investment in subsidiary, RSHTPL, to support working capital requirements and general corporate purposes.
The book running lead managers to the issue are Kotak Mahindra Capital Company, Citigroup Global Markets India, BNP Paribas, and HSBC Securities and Capital Markets (India), the reports said.
