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Wireless

FIH's Wonderful Stars unit invests nearly USD 100 mln in Rising Stars Mobile India

Tuesday 3 December 2019 | 08:48 CET | News
FIH Mobile, part of Foxconn and a manufacturer of Android smartphones, has announced that on 4 December, Wonderful Stars, an indirect subsidiary of FIH Mobile incorporated in Singapore, will make a capital injection in Rising Stars Mobile India, a subsidiary of Wonderful Stars incorporated in India in an aggregate amount of USD 99.99 million (approximately INR 7.14 billion) for various purposes including business expansion and additional working capital. 

Subject to the completion of necessary formalities and procedures under the applicable Indian laws and regulations, immediately following the Capital Injection, the total issued share capital of Rising Stars would be increased to INR 23.80 billion, 99.97 percent of which would be held by Wonderful Stars (representing its acquisition of additional 71.49 million ordinary shares of INR 100 each in Rising Stars). The remaining 0.03 percent of which would be held by Aptech Electronics, another indirect subsidiary of FIH Mobile incorporated in Singapore. 

Rising Stars manufactures mobile phones, telecommunication devices and electronic products, and also provides the related software licensing and programming.



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Categories: Mobile & Wireless
Companies: FIH Mobile / Foxconn
Countries: India / Singapore
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