Foxconn's Bharat FIH gets SEBI's nod to raise ₹5,000 crore via IPO

Bharat FIH, the Indian arm of iPhone maker Foxconn, has received market regulator SEBI's approval for raising ₹5,000 crore through an IPO. The public issue comprises fresh issue of shares worth ₹2,502 crore and an offer-for-sale of up to ₹2,502 crore. Bharat FIH has reserved 75% shares for qualified institutional buyers and 15% shares for non-institutional investors.