Bharat FIH is the largest Electronic Manufacturing Services (EMS) provider in India, with approximately 15 per cent market revenue share in the 2021 financial year.
The proposed initial share sale aims to raise ₹2,501.9 crore of fresh capital. In addition, a Foxconn unit holding shares of Bharat FIH will divest a portion of its stake to raise an equal amount.
Shares of FIH Mobile, a unit of Apple Inc supplier Foxconn, surged 6.7% earlier in the day in Hong Kong after the company proposed the listing of Bharat FIH.