Bharat FIH files DRHP with SEBI for IPO worth Rs 5,000 crore

Foxconn group’s arm Bharat FIH has filed its draft red herring prospectus (DRHP) with Securities and Exchange Board of India (SEBI) for its initial public offering (IPO). The Rs 5,004 crore IPO comprises a fresh issue of Rs 2,502 crore and an offer for sale (OFS) of Rs 2,502 crore.

The offer for sale is by its promoter, Wonderful Stars. Wonderful Stars and FIH Mobile are its promoters, its prospectus stated. Wonderful Stars, together with its nominees, holds 99.97 per cent of the company’s shares.

The company is planning to utilise the proceeds of the fresh issue for funding its capital expenditure by upgradation and expansion of its campuses, investment in its subsidiary RSHTPL for financing its capital expenditure requirements, and funding working capital requirements.

Kotak Investment Banking, Citigroup Global Markets India, BNP Paribas and HSBC Securities and Capital Markets India are the bankers to the issue.

Source link

Leave a Reply