Electrical goods maker Havells India today said US-based financial institution Janus has picked up a 5.16 per cent stake in the company for an estimated Rs 420 crore.
In a filing to the BSE, the National Capital Region-based Havells India said Janus Investment Funds and Janus Aspen Series have bought 64,42,728 equity shares, representing 5.16 per cent holding of the company.
The shares were purchased on February 5 this year through open market transactions, it added.
Although the financial details were not shared, according to the closing share price of Havells India on BSE on the day of the transaction — Rs 653.40 apiece, the foreign firm is estimated to have invested over Rs 420 crore.
Shares of Havells India were trading 1.68 per cent down at Rs 639.60 apiece on the BSE in the afternoon session.