Foxconn decided to postpone its Indian subsidiary’s IPO plan due to current market conditions. Google’s business in India may be negatively impacted after being fined by the country’s antitrust regulator for anti-competitive practices.
Foxconn postpones Bharat FIH’s IPO plan
According to Sina, Foxconn’s FIH said it would delay its IPO plan for its Indian business Bharat FIH until the stock market condition improves. FIH said the company does not guarantee whether or when the spin-off and IPO plan will proceed.