Bharat FIH Limited is planning to raise Rs 50.04 billion via initial public offering (IPO). To this end, it has filed the draft prospectus with the Securities and Exchange Board of India (SEBI). The company is the largest electronics manufacturing services (EMS) provider in India with approximately 15 per cent market revenue share in the FY’2021.
Bharat FIH Limited is a Foxconn Technology Group company. The IPO will consist of a fresh issue of up to 25.02 billion shares and an offer for sale of a similar quantity by the promoter group and Wonderful Stars (a Foxconn unit).
Bharat FIH, previously known as Rising Stars India, provides manufacturing and assembly services for Xiaomi’s mobile phones in India. The company has operations across campuses in Andhra Pradesh and Tamil Nadu. Foxconn derives most of its revenue in India from Xiaomi.
The company is reportedly expanding its business into industries other than mobile phones, with a focus on high-growth industries that benefit from market tailwinds, including mechanics, electric vehicles, televisions and hearables.
