The homegrown electrical equipment maker Havells India plans to acquire a company in China to secure a strong footprint in the region in the next one year. Currently, it is in the process of identifying a suitable company. The acquisition will support its expansion plans in the region.
The company can cough up to Rs 450 crore for a suitable acquisition in China the funding of which will be through internal accruals. Besides China, the New Delhi-based company also plans to expand its footprint in the Asean region as well as Latin America in the next fiscal.
Recently, Havells extended its product portfolio by introducing ceramic metal halide (CMH), a new generation lighting which has a high CRI (colour rendering index) and is considered the closest substitute for natural light.