February 20, 2024
Taiwanese electronics manufacturing companies main Foxconn has infused USD 55.29 million (about Rs 461 crore) in Bengaluru-based Foxconn Precision Engineering Personal Restricted, in keeping with a regulatory submitting. The corporate has made the funding by way of its Singapore-based subsidiary Foxconn Singapore Pte Restricted.

Foxconn Singapore has acquired about 46,08,76,736 shares at Rs 10 every, amounting to round USD 55.29 million (Rs 460.87 crore), in keeping with the submitting.

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Foxconn Precision Engineering was integrated round six months in the past.

In July, Foxconn proposed to arrange a Rs 8,800-crore supplementary plant to that of its unit on the Devanahalli Data Expertise Funding Area in Karnataka.

It has additionally purchased 300 acres at Devanahalli.

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In response to the announcement made earlier by the Karnataka authorities, Foxconn is predicted to create employment for about 50,000 individuals within the first part at Devanahalli.