Foxconn Group | Foxconn invests Rs 461 crore in Bengaluru-based Foxconn Precision Engineering Private Limited
The company has made the investment through its Singapore-based subsidiary Foxconn Singapore Pte Limited
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The company has made the investment through its Singapore-based subsidiary Foxconn Singapore Pte Limited
Major iPhone producer Foxconn has decided to invest more in India's Bengaluru unit.
Foxconn Singapore has acquired about 46,08,76,736 shares at Rs 10 each, amounting to around USD 55.29 million (Rs 460.87 crore), according to the filing.
In July, Foxconn had proposed to set up a Rs 8,800-crore supplementary plant to that of its unit at the Devanahalli Information Technology Investment Region in Karnataka. It has also bought 300 acres in the area.
Foxconn, the largest manufacturer of Apple iPhones, has invested $55.29 million in Foxconn Precision Engineering Private Limited in Bengaluru. The inv