Foxconn invests Rs 461 crore in Bengaluru unit


PTI, Dec 28, 2023, 8:59 AM IST

New Delhi: Taiwanese electronics manufacturing services major Foxconn has infused $55.29 million (about Rs 461 crore) in Bengaluru-based Foxconn Precision Engineering Private Limited, according to a regulatory filing.

The company has made the investment through its Singapore-based subsidiary Foxconn Singapore Pte Limited.

Foxconn Singapore has acquired about 46,08,76,736 shares at Rs 10 each, amounting to around $55.29 million (Rs 460.87 crore), according to the filing.

Foxconn Precision Engineering was incorporated around six months ago.

In July, Foxconn proposed to set up a Rs 8,800-crore supplementary plant to that of its unit at the Devanahalli Information Technology Investment Region in Karnataka.

It has also bought 300 acres at Devanahalli.

According to the announcement made earlier by the Karnataka government, Foxconn is expected to create employment for about 50,000 people in the first phase at Devanahalli.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

India crawl to 51 for 4 after losing top-order

Nursing student suicide: Three students arrested in Kerala

Nadda’s letter to Kharge full of falsehoods: Cong

10 month baby gets new heart, new life

Actress Kasthuri released from jail, says ‘I thank those who made me raging storm’

Kidnapped for ransom in 1998, 26/11 survivor Gautam Adani faces biggest trial

100 engineering colleges in Karnataka to be ‘adopted’ by corporates by next year: IT Minister Kharge

Related Articles More

Puttur: Private bus crashes into house to avoid collision with school bus

Mangaluru: POCSO case – Convict sentenced to 20 years in prison

Sampaje: Financial fraud using Google Pay reported

Kundapur: Several injured after insulator truck rams into Innova car on NH-66

Only ineligible BPL cards cancelled: Dinesh Gundu Rao

MUST WATCH

Christmas Cake Fruit Mixing

DK Shivakumar

Rose Cultivation

Geethotsava

Naxal Operation


Latest Additions

Puttur: Private bus crashes into house to avoid collision with school bus

India crawl to 51 for 4 after losing top-order

Mangaluru: POCSO case – Convict sentenced to 20 years in prison

Nursing student suicide: Three students arrested in Kerala

Sampaje: Financial fraud using Google Pay reported

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.