December 28, 2023
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.
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.
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.
To facilitate this expansion, Foxconn has also procured 300 acres of land in Devanahalli.
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