Chennai: Taiwan-based electronics manufacturing company Hon Hai Technology Group (Foxconn) has made an investment of $37.2 million (approx Rs 350 crore) into its India arm, Foxconn Hon Hai Technology India Mega Development.The investment was made through its Singapore-based subsidiary, Foxconn Singapore, by acquiring 351.7 million additional units at Rs 10 per share, it informed exchange filings on Friday. With this transaction, Foxconn Singapore’s stake in the entity is at 99.99%, with a cumulative value of $2.8 billion and another group entity, Yuzhan Technology, holding a minor share. The board of directors approved the transactions on June 25.Foxconn Hon Hai Technology India Mega Development is registered in the Registrar of Companies, Chennai and based at Sriperumbudur. The company, making iPhones for Apple, has been ramping up its manufacturing footprint in India, with one of its largest facilities and workers’ dormitories located in Sriperumbudur. It is important to note that Foxconn has infused $1.5 billion in Yuzhan Technologies in May 2025, which assembles iPhone display modules.
