Foxconn’s India unit Xiaomi phone maker Bharat FIH files DRHP for ₹5000 Cr IPO. A subsidiary of FIH mobiles and Foxconn Technology Group has filed its preliminary documents with SEBI to raise over ₹5000 Cr through an Initial Public Offer.
Bharat FIH is India’s leader in the manufacturing and services of handset and wireless communications. They have been a leading part of India’s manufacturing revolution. Currently, Bharat FIH is one of the largest Electronics Manufacturing Services (EMS) in the country serving local and international brands.
Earlier known as Rising stars Mobile India, Bharat FIH was established in 2015 in Andhra Pradesh, India. By 2017, the company had extended its business and manufacturing capabilities in Chennai. and now the company is one of the largest manufacturing units in the region with over 25,000 employees, of which 85% are women.
Foxconn India Unit Bharat FIH is the largest contract manufacturer in India with approximately 15% revenue share for FY 2021. Currently, Wonderful Stars holds 99.97% stakes in the company.
Bharat FIH (BFIH) plans to emerge as a Global Integrated Design Manufacturer of electronics in India by putting its hold firmly on Atmanirbhar Bharat or Self Reliant India. It also aims to deliver world-class services globally to its customers. It aims to mitigate unforeseen market risks and use the fresh IPO proceeds to pay cash dividends to its shareholders.
- Wonderful Stars PTE.LTD
- FIH MOBILE LIMITED
Bharat FIH IPO Details
Bharat FIH IPO comprises of fresh issue of shares worth ₹2502 Cr and an offer for sale up to ₹2502 Cr by promoters and Foxconn Unit Wonderful Stars. The fresh issue will be used for funding capital expenditure towards the expansion of its existing campuses, Investment in subsidiaries, and support working capital requirements and general corporate purposes.
|IPO DETAILS||Bharat FIH|
|Issue Period||Opening Date: 2022
Closing Date: 2022
|Price Band||To Be Announced|
|Issue Size||₹5000 CR|
|QII||To Be Announced|
|NII||To Be Announced|
|RII||To Be Announced|
|Listing||NSE and BSE|
|Registrar||Kfin Technologies Private Limited|
BOOK RUNNING LEAD MANAGERS
- Kotak Mahindra Capital Company Limited.
- Citigroup Global Markets India.
- BNP Paribas.
- HSBC Securities and Capital Markets (India) Pvt Ltd.
Let us have a look at a few milestones of Bharat FIH
- Started its operation in 2015 in Andhra Pradesh.
- 2017, the R&D team kickstart its operation in Bangalore.
- Manufacturing operations started in Tamil Nadu in 2018.
- In 2019, started plastic and metal components.
- In 2021, Rising Stars Mobile India changes itself to Bharat FIH.
- Expanding R&D team for providing fully functional R&D services at IIT Madras Research Park in 2021.
Bharat FIH is the largest Electronic Manufacturing Services (EMS) provider in India. Excluding the EMS service, the company is trying to provide original equipment manufacturers (OEMs) with a comprehensive “vertically integrated one-stop solution” having a range of original design manufacturers. This includes product design, development, manufacturing, sourcing, logistics, and after-sales services.
Bharat FIH Registrar