Foxconn Singapore Pte Ltd has acquired an additional 351.73 million shares in its Indian subsidiary, Foxconn Hon Hai Technology India Mega Development Pvt Ltd, for $37.2 million.
The transaction, disclosed in an exchange filing, increases the Taiwanese electronics manufacturer's ownership stake in the unit to 99.99999996 percent.
The move effectively consolidates Foxconn's control over its Indian operations, leaving only a negligible fraction of shares held by minority investors.
By purchasing the remaining equity, the Singapore-based entity simplifies the corporate structure of its Indian arm, which is a key node in the company's global manufacturing network.
This acquisition aligns with broader trends of foreign manufacturers deepening their footprint in India.
The country has become a strategic hub for electronics production as companies seek to diversify supply chains away from China.