Bharat FIH gets SEBI's nod to raise Rs 5000 crore via IPO
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Bharat FIH, a subsidiary of FIH Mobiles and a Foxconn Technology Group company, has received the Securities and Exchange Board of India’s (SEBI) approval to raise Rs 5000 crore through an initial public offering (IPO). The company, which filed the draft red herring prospectus with the SEBI in December 2021, got the regulator’s approval on June 10, 2022.
Proceeds of fresh issue will be used for funding capital expenditure requirements of the company towards the expansion of its existing campuses, investment in the subsidiary, RSHTPL, to support working capital requirements, and general corporate purposes.
Bharat FIH, formerly Rising Stars Mobile India, is the largest Electronic Manufacturing Services (EMS) provider in India, with approximately 15 percent market revenue share in the financial year 2021.
