Comments
Global private equity firm Warburg Pincus today sold 5.6 per cent stake in electrical goods maker Havells India for Rs 455 crore.
Warburg Pincus, which held its stake in Havells India through its group firm Seacrest Investment Ltd, offloaded 70 lakh shares (amounting to 5.61 per cent stake) of Havells India, according to bulk data available with the stock exchanges.
The shares were sold on an average price of Rs 650.02 valuing the deal size at Rs 455 crore, data showed.
As of December quarter, the private equity firm held 1.28 crore shares or 10.27 per cent holding in Havells India.
In December 2007, Warburg Pincus has acquired over 67.60 lakh securities in Havells India for Rs 439.40 crore.
Meanwhile, Janus Invest Fund bought 51.97 lakh shares of Havells India for Rs 338 crore and Janus Aspen Series purchased 12.45 lakh scrips of the electrical goods maker for Rs 81 crore.
Havells India’s product range includes industrial and domestic switchgears, cables and wires, energy meters, fans, CFL lamps, lighting systems for domestic, commercial and industrial application, and modular switches.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.