Warburg Pincus sells 5.6% stake in Havells India for Rs 455 cr
Global private equity firm Warburg Pincus Tuesday sold 5.6 percent stake in electrical goods maker Havells India for Rs 455 crore.
Mumbai: Global private equity firm Warburg Pincus Tuesday sold 5.6 percent 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 percent 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 percent 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.