Warburg Pincus, a global private equity firm, will invest $110 million in country’s electrical and power distribution equipment company Havells India.
Havells will issue fresh shares and warrants to Warburg Pincus, representing approximately 11.2 per cent of the fully diluted share capital of the company.
SSKI (a subsidiary of IDFC) was the financial advisor and Amarchand Mangaldas provided legal advice to Warburg Pincus on this transaction.
Havells India, $1.2 billion enterprise and one of country’s fastest growing electrical and power distribution equipment companies, manufactures products ranging from building circuit protection, industrial & domestic switchgears, cables & wires, energy meters, fans, CFL lamps, luminaries for domestic, commercial & industrial application, and modular switches.
Havells also owns prestigious global brands like Crabtree (Indian Region), Sylvania, Lumiance and Zenith, among others.
Over a twelve-year period, Warburg Pincus have invested approximately $2 billion in India making it one of the largest private equity investors in the country.
The firm’s past and current investments in India include Ambuja Cements, Bharti Airtel, Dainik Bhaskar, HDFC, Kotak Mahindra Bank, Max India, Moser Baer, Nicholas Piramal, Punj Lloyd, Sintex Industries, Lemon Tree Hotels and WNS Global Services.
(Source: Business Standard)
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