Bharat FIH IPO: Mobile handset manufacturing company Bharat FIH is going to bring its IPO soon. The company plans to raise Rs 5,000 crore through IPO. Bharat FIH has also got approval from the stock market regulator SEBI to bring an IPO.
green signal from sebi
Bharat FIH’s IPO will have a fresh issue of Rs 2,502 crore and Rs 2502 crore will be raised by the promoters through offer for sale. India FIH had filed a draft paper with SEBI to bring the IPO in December 2021. After which SEBI has given green signal to the company to bring IPO.
Manufactures mobile handsets for Xiaomi and Nokia
Bharat FIH manufactures mobile handsets for Xiaomi and Nokia. And this company is a subsidiary of Foxconn Technology Group and FIH Mobiles. At present, Wonderful Stars holds 99.97 percent stake in the company. The company will spend the money raised through the IPO in its expansion and capital expenditure.