Tata invests ₹1,500 crore more to charge up iPhone biz

Kolkata: The Tata Group is stepping up investments in its Apple iPhone contract manufacturing business with fresh equity infusion of ₹1,500 crore into Tata Electronics, underscoring its aggressive scale-up plans in electronics.

Tata Sons has also more than doubled the authorised share capital of Tata Electronics Products and Solutions by ₹3,500 crore to ₹6,250 crore, signalling further capital infusion into the Pegatron Technology India unit in which it acquired a controlling 60% stake last year.

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The moves were undertaken to carry out "business activities," the companies said in regulatory filings with the Registrar of Companies (RoC). In FY26, the group infused a total of ₹3,000 crore into Tata Electronics, its flagship iPhone manufacturing arm, with this latest round completed last month. The company also doubled its authorised share capital to ₹20,000 crore last fiscal, the filings showed.

The group's stake in Tata Electronics Products and Solutions is held through Tata Electronics.

Tata Electronics refused to participate in the story.

Analysts said continued capital infusion and balance sheet strengthening reflect sustained parent-level backing for capacity expansion, as Tata Electronics emerges as one of the largest iPhone manufacturers for Apple in India along with Taiwanese major Foxconn. "This appears to be phased funding for large electronics projects rather than a one-off raise, with the group building financial capacity ahead of execution," said Mohit Yadav, founder of business intelligence consultancy AltInfo.

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The latest funding round in Tata Electronics was priced at ₹62 per share. Earlier infusions in 2023, 2024 and January 2025 were priced at ₹10 per share, filings showed. Financially, Tata Electronics reported a sharp rise in consolidated operating income to ₹66,206 crore in FY25, from ₹3,752 crore in FY24. Its net loss narrowed significantly to ₹69 crore from ₹825 crore a year earlier. Financials for FY26 are yet to be disclosed.

According to Counterpoint Research, more than 70% of iPhones sold in the US are now produced in India. Apple has also indicated to analysts that the "vast majority" of iPhones sold in the US are sourced from India, while most other Apple products such as Mac, iPad and Watch are manufactured in Vietnam.

Beyond smartphone assembly and high-tech components, Tata Electronics is making a push into semiconductors, with planned investments of about $14 billion in a fabrication facility in Gujarat and a chip assembly and testing unit in Assam.