Wistron eyes capital infusion in its India unit

Apple's Taiwanese supplier Wistron Infocomm Manufacturing India has increased the authorised share capital of the company from $26 million (Rs 185 crore) to $422 million (Rs 3,000 crore) that possibly signals a fresh round of capital infusion into its India unit. Wistron India, at its extraordinary general meeting recently, approved the altered capital clause wherein the authorised share capital of Rs 3,000 crore is divided in 300-crore equity shares with face value of Rs 10, showed a recent Registrar of Companies (RoC) filing. Wistron's wholly-owned subsidiary SMS Infocomm Singapore has been allocated 10.29 crore shares worth about $14.6 million (Rs 102.9 crore). Wistron India provides design, manufacturing and after-sales service support functions for ICT products. The original equipment manufacturer (OEM) and original design manufacturer (ODM) major focuses on a product portfolio, including notebook, desktop, storage systems, networking, communication products, LCD TV, smartphone and handheld devices. Wistron is planning to invest $422 million in Narasapura industrial area in Kolar district spread on the 43-acre land will be one of the biggest projects of its kind in the country. A note from Karnataka CM HD Kumaraswamy's office said the new facility is expected to create 10,500 jobs.