December 28, 2023Business Desk

Foxconn to invest Rs 461 crore in Bengaluru unit

Taiwanese electronics manufacturing giant Foxconn has infused approximately $55.29 million (Rs 461 crore) into Bengaluru-based Foxconn Precision Engineering Private Limited.

Source: Unsplash

The regulatory filing indicates that Foxconn Singapore has secured approximately 46,08,76,736 shares of Foxconn Precision Engineering at a face value of Rs 10 per share.

Source: Unsplash

In July, Foxconn proposed an investment of Rs 8,800 crore to establish an auxiliary plant adjacent to its existing facility in the Devanahalli Information Technology Investment Region.

Source: Unsplash

To facilitate this expansion, Foxconn has also procured 300 acres of land in Devanahalli.

Source: Unsplash