Foxconn's India unit Bharat FIH files DRHP for Rs 5,004 cr IPO NEW DELHI: Foxconn's India unit Bharat FIH Ltd plans to raise Rs 5,004 crore via an initial public offering , for which it has filed the draft prospectus with the Securities Exchange Board of India . It said it is the largest contract manufacturer in India with approximately 15% revenue market share in FY2021. BFIH is currently an indirect wholly-owned subsidiary of FIH. Hence, BFIH will remain as a subsidiary of FIH, which will continue to consolidate the financial results of the BFIH Group in its consolidated financial results. BFIH plans to use the net IPO proceeds to pay a special cash dividend to the shareholders, finance its working capital requirements, maintain a healthy capital structure and adequate cash for its continuing operations, to mitigate unforeseen market risks, and for other investments for future business growth and development when opportunities arise. Bharat FIH’s key competitors include domestic and international EMS/ODM providers such as Flextronics, Jabi, Dixon, Sanmina-SCI Technology and Optiemus Infracomm as well as the in-house manufacturing and assembly departments of its existing and potential original equipment making customers

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