Havells India will increase its stake in Bangalore based entity Promptec Renewable Energy Solutions. A tripartite agreement has been signed among the companies viz. Havells India, Promptec Renewable Energy Solutions, a subsidiary where the company presently holds 51% stake and the shareholders of Promptec, whereby the company has agreed to acquire up to 70% stake in the paid-up share capital of Promptec.
Promptec is a Bangalore based entity engaged in marketing and manufacturing of LED products including street lighting, office lighting and Solar lighting.
Havells India is engaged in manufacturing and marketing of electrical and power equipments. It offers industrial and domestic circuit protection switchgear, cables and wires, motors, fans, power capacitors, lamps, luminaries for domestic, commercial and industrial applications, modular switches and bath fittings.