Edited extracts from the Warburg Pincus press release:
Electrical and power distribution equipment company Havells India has announced that Warburg Pincus is investing $110 million in the company. Havells will issue fresh shares and warrants to Warburg Pincus, representing approximately 11.2% of the fully diluted share capital of the company.
Earlier this year, Havells acquired Dutch-based SLI Sylvania's lighting business to enhance their global presence. Warburg Pincus’ investment will be utilised to partly retire the debt raised during the Sylvania acquisition, and in strengthening the company’s manufacturing capacity and distribution network to address the Indian market.
Arun Natarajan is the Founder & CEO of Venture Intelligence, the leading provider of information and networking services to the private equity and venture capital ecosystem in India. View free samples of Venture Intelligence newsletters and reports.