The Tata Group, which has played a leading role in various sectors from salt to steel, has now made full preparations to dominate another sector. The group has set aside a fund of Rs 7,600 crore for its new business. The Tata group is now preparing to give a tough competition to the leading electronics manufacturing companies like Foxconn.
This much capital has been received before
According to a report in ET, the new fund has been revealed from the filing made with the Registrar of Companies (RoC). The Tata group had started a new company named Tata Electronics some time ago to enter the electronics manufacturing sector. Tata Electronics received capital of Rs 608 crore during 2022-23 from the holding company Tata Sons, which was the highest in any single financial year. In this way, in 3 years after the start of the new company, it has got a capital of Rs 1,820 crore.
Company gave information to ROC
The authorized capital for Tata Electronics is Rs 2000 crore. At the same time, the paid-up capital has been Rs 1,820 crore. In this way, Tata Electronics is now left with a small amount of Rs 180 crore to use. To increase the funding, the company will need to change the limit of authorized capital.
According to the information given to the Registrar of Companies, now a settlement of Rs 7,600 crore has been made for Tata Electronics. This includes both equity and debt infused by parent company Tata Sons. As per the filing, the company has raised debt of Rs 5,799 crore.
Foxconn and Dixon will compete
Tata Electronics is a new company of the group. Tata Group has established this company to enter the field of manufacturing of electronic components. Tata Group is preparing to buy a plant of Wistron, one of Taiwan’s leading electronics manufacturing companies. The related plant of Wistron is located near Bengaluru in Karnataka and many other products including iPhone are made for Apple in this plant. Tata Group is preparing to compete with giants like Foxconn and Dixon in the electronics manufacturing sector through Tata Electronics.
These preparations of Tata Electronics
It is being told that Wistron’s plant will be bought through the group’s new company Tata Electronics. This company is already building a new plant in Tamil Nadu. This new plant of Tata Electronics being built in Tamil Nadu is for mobile manufacturing. At the same time, after acquiring Wistron’s plant, Tata Electronics will become the first Indian company to manufacture iPhone for Apple.
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