New Delhi: Mobile handset maker Bharat FIH will soon launch an IPO. The company aims to raise Rs 5,000 crore through an IPO. India FIH has also secured the approval of the Securities and Exchange Board of India (SEBI) to bring in an IPO.
SEBI’s green signal
Bharat FIH’s IPO will fetch a new issue of Rs 2,502 crore. In addition, `2502 crore will be raised through sales offers of promoters. India FIH had filed a draft paper with SEBI in December 2021 to bring in an IPO. SEBI has given the green signal to the company to launch an IPO.
The company manufactures mobile handsets for Xiaomi and Nokia
India FIH xiaomi (Xiaomi) and Nokia Manufactures mobile handsets for (Nokia). The company is a subsidiary of Foxconn Technology Group and FIH Mobiles. Wonderful Stars currently owns 99.97% of the company. The money raised by the company through the IPO will be used for its expansion and capital expenditure.
Web Title: SEBI has cleared Foxconn’s Bharat FIH to issue Rs 5,000 crore IPO.
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