Global private equity firm Warburg Pincus on Tuesday sold 5.6 per cent 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, divested 70 lakh shares representing 5.61 per cent stake of Havells India, at an average price of Rs 650.02 per share, according to bulk data available with the stock exchanges. As of December quarter, the private equity firm held 10.27% stake in Havells India.
Global private equity firm Warburg acquired over 67.60 lakh securities in Havells India for Rs 439.40 crore, back in December 2007. While, Janus Invest Fund holds 51.97 lakh shares of Havells India for Rs 338 crore and Janus Aspen Series purchased 12.45 lakh shares of the electrical goods maker for Rs 81 crore.
Havells India has 10 manufacturing facilities in India in various states, including Himachal Pradesh, Uttar Pradesh and Rajasthan.
