Havells India Acquires Majority Stakes in Promptec at Rs 65 Cr

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Havells India announced its acquisition of majority stakes (51%) in Promptec Renewable Energy Solutions at a value of Rs. 65 crore.

As reported by NextBigWhat, with Havells recent acquisition it plans to expand its reach into two high growth lighting verticals of LED and solar energy.

Promptec Renewable Energy is a Bangalore based company which manufactures LED and solar lighting products. The company specializes in outdoor high wattage lighting systems such as LED street light, flood lights, high mast lights; Indoor office lights such as lights for commercial spaces and Solar lights such as solar street lights, home lights, solar lanterns and solar charge controllers.

Havells India Ltd is a electrical equipment company founded in 1958 with products ranging from commercial and industrial electrical needs, water heater and domestic appliances. In 2007 it acquired lighting company Sylvania. Today the company owns brands like Havells, Crabtree, Sylvania, Concord, Luminance and Standard.

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