Havells India has acquired a 51% stake in Bangalore-based LED and solar lighting products maker Promptec Renewable Energy Solutions at an enterprise value of Rs 65 crore.
This acquisition marks Havells India’s entry in the solar energy segment and will also help it grow aggressively in the LED space with short development cycles for new products. Post-acquisition, the promoter group of Promptec would continue to hold a 49 per cent stake in the company.
Havells India is a leading FMEG Company with a strong global footprint. It enjoys enviable market dominance across a wide spectrum of products, including Industrial & Domestic Circuit Protection Devices, Cables & Wires, Motors, Pumps, Fans, Modular Switches, Home Appliances, Electric Water Heaters, Power Capacitors, CFL Lamps etc.
