|
NewsVoir
Chennai (Tamilm Nadu) [India], June 26: Hon Hai Precision Industry Co. Ltd. (Foxconn), the world's largest electronics manufacturer, has announced an additional investment of USD 37.2 million into its Indian subsidiary, Foxconn Hon Hai Technology India Mega Development Private Limited, further strengthening its long-term commitment to expanding manufacturing operations in India, according to London Stock Exchange filing (www.londonstockexchange.com/news-article/HHPD/subsidiary-obtaining-foxconn-hon-hai-shares/17657305). The investment was made through Foxconn Singapore Pte. Ltd., a wholly owned subsidiary of Hon Hai Precision Industry, via a capital infusion approved by the company's Board of Directors. As part of the transaction, Foxconn Singapore subscribed to approximately 351.73 million equity shares of the India entity at a face value of Rs. 10 per share. Following the capital infusion, Foxconn Singapore's investment in the Indian subsidiary has increased to approximately USD 2.82 billion, representing a virtually 100 percent ownership stake. The company said the investment has been made through internally generated funds and has been classified as a long-term strategic investment. The latest capital infusion underscores Foxconn's continued confidence in India's manufacturing ecosystem and aligns with the country's growing importance in the global electronics supply chain. India has emerged as one of Foxconn's key manufacturing hubs, supported by favourable government policies, expanding infrastructure and increasing demand for electronics production. The company clarified that the transaction is purely a capital increase within the group and does not involve any change in business operations or ownership structure. No broker fees were incurred, and the investment carries no restrictive covenants or special contractual conditions. Foxconn has been steadily expanding its manufacturing footprint in India across multiple product categories and has announced several investments in recent years as part of its broader strategy to diversify global production capabilities. About Hon Hai Precision Industry Co., Ltd. (Foxconn) Established in Taiwan in 1974, Hon Hai Technology Group (Foxconn) is the world's largest electronics manufacturer. Foxconn is also the leading technological solution provider, and it continuously leverages its expertise in software and hardware to integrate its unique manufacturing systems with emerging technologies. The Group has expanded not only its capabilities into the development of electric vehicles, digital health and robotics, but also three key technologies -AI, semiconductors and new-generation communications technology - which are key to driving its long-term growth strategy and the four core product pillars: Smart Consumer Electronics, Cloud and Networking, Computing Products and Components and Others. In 2025, Hon Hai's annual revenue reached USD 259 billion. (ADVERTORIAL DISCLAIMER: The above press release has been provided by NewsVoir. ANI will not be responsible in any way for the content of the same.)
|
