Foxconn Singapore Pte Ltd has strengthened its investment in India by acquiring an additional 351.73 million shares in its Indian subsidiary, Foxconn Hon Hai Technology India Mega Development Private Limited, according to a stock exchange filing.
The company’s board approved the transaction on June 25, under which the shares were acquired at Rs 10 per share, translating into a total investment of USD 37.2 million.
Following the capital infusion, Foxconn Singapore now holds approximately 23.18 billion shares in its Indian subsidiary, representing a 99.99999996 percent ownership stake. The cumulative value of its investment in the Indian entity now stands at USD 2.82 billion.
The remaining 10 shares are held by Yuzhan Technology (India) Private Limited, accounting for 0.00000004 percent of the company’s equity. The filing stated that these shares carry no restrictions on ownership rights.
According to the company, the latest investment has been funded through private capital and has been classified as a long-term investment.
The filing also clarified that the transaction represents a capital increase in the subsidiary rather than the purchase of shares from existing shareholders. As a result, no broker fees were involved.
Following the investment, the securities account for 3.55 percent of Hon Hai Precision Industry’s total assets and 7.72 percent of equity attributable to shareholders, based on the company’s latest financial statements.
The filing also disclosed that the company reported operating capital of NTD -317.91 billion, equivalent to approximately USD 9.9 billion.
Foxconn stated that the transaction does not alter the company’s business model, and no member of the board recorded a dissenting opinion regarding the investment.
The agreement also contains no restrictive covenants or significant contractual conditions, while the shares acquired are free from encumbrances such as pledges or other ownership restrictions.
The latest capital infusion comes as Foxconn continues to expand its manufacturing footprint in India, supported by growing production requirements from Apple and the company’s broader “3+3+3 strategy.”
The strategy focuses on integrating three emerging industries, three core technologies and three smart platforms as part of Foxconn’s long-term global manufacturing and technology expansion.
The additional investment underscores the company’s continued commitment to India, which has become an increasingly important manufacturing hub within Foxconn’s global operations as electronics production shifts toward diversified supply chains.
