Foxconn Singapore Buys $37.2 Million Worth of Shares in India Unit

The company's board approved the investment on June 25.

After the investment, Foxconn Singapore now owns 99.99999996% of its Indian subsidiary. Its total investment in the business has reached $2.82 billion.

The remaining 10 shares of the Indian company are owned by another Foxconn group company, Yuzhan Technology (India) Pvt Ltd.

Foxconn made the investment using its own funds as a long-term investment. The company did not buy shares from another business. Instead, the Indian subsidiary issued new shares to raise capital.

The investment does not change Foxconn's business operations. The company's directors approved the deal, and the new shares are not subject to any legal restrictions or pledges.

Foxconn has been steadily expanding its operations in India. The company is increasing its investment to support Apple's growing manufacturing business and its own long-term plans in advanced technology and smart platforms.

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