Foxconn’s subsidiary, Hon Hai Technology India Mega Development Private Limited, has finalized a machinery acquisition worth approximately USD 32.26 million. The purchase, which took place between October 25, 2024, and April 1, 2025, is aimed at fulfilling the company’s operational needs.
The equipment was procured from Apple Operations Limited, with no direct ties between the two companies, confirming the transaction was an independent one. While the exact type and use of the machinery were not disclosed, the deal was straightforward, with no involvement from related parties or conflicting opinions from directors.
The agreement, negotiated based on market prices, was authorized internally without the necessity for an external appraisal or broker. This indicates that both parties mutually agreed on the machinery’s value.
This move is part of Foxconn India’s broader strategy to bolster its operational capacity and support future growth. However, the release did not mention any specific forecasts on how the acquisition might affect the company’s financial outlook or market standing.
Furthermore, there were no objections from the company’s directors, and the acquisition did not require special approval from the board or an audit committee, suggesting the purchase aligns with regular business activities.