Foxconn Singapore invests ₹319 crore in India arm, raises stake to nearly 100%

Foxconn's Singapore subsidiary has infused $37.2 million (about ₹319 crore) into its Indian unit through a fresh share subscription, reinforcing the Taiwanese electronics manufacturer's long-term commitment to India as it expands its manufacturing base in the country.

According to a regulatory filing by parent company Hon Hai Precision Industry, Foxconn Singapore Pte. Ltd. subscribed to 351.73 million common shares of Foxconn Hon Hai Technology India Mega Development Private Limited at ₹10 apiece after the transaction was approved by its board on June 25.

The filing described the investment as a long-term investment and said it was funded through private capital. Since the transaction was a capital infusion into the subsidiary rather than a purchase from an existing shareholder, no brokerage fees were involved.

Following the latest investment, Foxconn Singapore's holding in the Indian entity has risen to 23.18 billion shares, translating to 99.99999996% ownership. The remaining 10 shares, or 0.00000004%, are held by group company Yuzhan Technology (India) Private Limited. The cumulative value of Foxconn Singapore's investment in the Indian unit now stands at $2.82 billion, according to the filing.

India remains central to Foxconn's expansion

The fresh capital comes as Foxconn continues to deepen its manufacturing presence in India, which has become one of Apple's most important production hubs outside China. The company has steadily expanded its footprint across southern India, with large manufacturing operations in Tamil Nadu, Karnataka and Telangana.

Earlier this year, Foxconn received approval from Taiwan's Ministry of Economic Affairs for a $1.49 billion investment in its India operations. The company has also announced plans to establish a major manufacturing campus in Karnataka, while its Hyderabad facility has begun producing AirPods for Apple.

Foxconn has been ramping up investments in India as global electronics companies diversify supply chains beyond China and Apple increases iPhone production in the country for both domestic sales and exports. Alongside its manufacturing expansion, the company is pursuing its broader "3+3+3" strategy, which focuses on electric vehicles, digital health and robotics, supported by investments in artificial intelligence, semiconductors and next-generation communications technologies.

The filing said the latest investment accounts for 3.55% of Hon Hai's total assets and 7.72% of equity attributable to owners of the parent, based on its latest financial statements. It added that there were no dissenting opinions from directors, no restrictive covenants attached to the transaction and no pledges or encumbrances on the shares acquired.

Hon Hai, better known globally as Foxconn, is the world's largest contract electronics manufacturer and Apple's biggest supplier. India has emerged as one of its fastest-growing manufacturing markets as the company expands production capacity beyond China.