Foxconn's Bharat FIH gets SEBI nod to float ₹5,000 crore IPO

Passive Funds: Expert decodes new rules

In SEBI’s parlance, its observations implies its go ahead to float IPO.

Going by the draft papers, proceeds of fresh issue will be used for funding capital expenditure requirements of the company towards expansion of its existing campuses, investment in subsidiary, RSHTPL, to support working capital requirements and general corporate purposes.

At present, Wonderful Stars holds 99.97 percent stake in the company.

Bharat FIH, formerly Rising Stars Mobile India, is the largest Electronic Manufacturing Services (EMS) provider in India, with approximately 15 percent market revenue share in financial year 2021.

In addition to EMS services, the company is building the capabilities to provide Original Equipment Manufacturers (OEMs) with a comprehensive, vertically integrated "one-stop solution" comprising a range of Original Design Manufacturer (ODM) services, including product design and development, component manufacturing and sourcing, logistics, and after-sales services.

The company has also been expanding its business into high-growth industries other than mobile phones, including mechanics, electric vehicles, televisions and hearables.

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