Bharat FIH, a subsidiary of Foxconn group, has filed its draft red herring prospectus (DRHP) for its initial public offering (IPO). The Rs 5,004-crore IPO comprises a fresh issue of Rs 2,502 crore and an offer for sale (OFS) of Rs 2,502 crore. The offer for sale is by its promoter, Wonderful Stars.
Wonderful Stars and FIH Mobile are its promoters, its prospectus stated. Wonderful Stars, together with its nominees, holds 99.97 per cent of the company’s shares.
FIH Mobile does not directly hold any shares in Bharat FIH. But it owns Wonderful Stars through its subsidiaries. As of September 30, 2021