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How many crores of Bharat FIH receives SEBI's approval for public offering?
₹3,000 crore
₹3,400 crore
₹4,350 crore
₹5,000 crore

Correct Answer : Option (D) - ₹5,000 crore

The largest electronic manufacturing services (EMS) provider in India, Bharat FIH has received market regulator Sebi's approval for an initial public offering (IPO) aggregating to ₹5,000 crore.
Bharat FIH is a subsidiary of FIH Mobile a leading manufacturing services provider for the mobile handset industry, which is a part of Foxconn Technology Group. The company makes devices for Xiaomi and Nokia.
Bharat FIH had filed its draft prospectus in December last year, to raise ₹5,003.8 crore from the IPO. The IPO size comprises a fresh issue worth ₹2,501.9 crore and an offer for sale up to ₹2,501.9 crore by Wonderful Stars.
As per Sebi's latest update, the regulator issued an observation letter on June 10, to Bharat FIH.
Under the IPO, 75% of the offer is reserved for qualified institutional buyers, while 15% of the size is allotted for non-institutional investors and the remaining 10% for retail individual investors.
Kotak Mahindra Capital, Citigroup Global Markets, BNP Paribas, and HSBC Securities and Capital Markets are acting as the book-running lead managers..

Source : Mint

Published On : June 14, 2022
Category : Business and Economics