Foxconn Singapore, a subsidiary of Taiwan’s Hon Hai Technology Group, has given the green light for a $37.2 million investment in its India-based subsidiary, Foxconn Hon Hai Technology India Mega Development Private Limited. This investment is part of the company’s long-term investment strategy, as stated in its regulatory filing. The board of directors of the company has sanctioned this investment by subscribing to around 351.73 million common shares of the Indian subsidiary at a face value of Rs 10 per share.
The total value of this transaction stands at approximately $37.2 million. The investment is structured as a capital increase in the wholly owned subsidiary and is earmarked for long-term growth. Notably, the funds for this transaction are sourced from private capital, underlining the company’s commitment to its Indian operations.
Following this share subscription, Foxconn Singapore will retain almost the entire equity in Foxconn Hon Hai Technology India Mega Development Private Limited, holding more than 23.18 billion shares with a total investment of about $2.82 billion. The remaining 10 shares are owned by Yuzhan Technology (India) Private Limited, another entity within the group.
The company has clarified that this investment does not entail any alterations to its existing business model. Furthermore, the transaction was executed without the involvement of any brokers, and there were no dissenting views from the directors. In terms of financial impact, this investment constitutes 3.55% of the group’s total assets and 7.72% of equity attributable to shareholders, based on the latest financial statements.
Foxconn, renowned as one of the world’s largest electronics manufacturing services companies, has been bolstering its manufacturing presence in India through investments in various facilities. Notably, in April, the ‘Made in India’ smartphone shipments witnessed an 8% year-on-year growth in 2025, fueled by a 28% surge in exports and a 1% uptick in domestic sell-in. Foxconn Hon Hai emerged as a significant beneficiary, registering a 48% year-on-year growth in exports, primarily driven by robust Apple shipments.
