Warburg sells entire 8.4% stake in Havells | business | Hindustan Times
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Warburg sells entire 8.4% stake in Havells

Global equity firm Warburg Pincus has sold its entire 8.35% stake in electrical and power equipment company Havells India for about Rs 730 crore.

business Updated: May 31, 2013 22:30 IST

Global equity firm Warburg Pincus has sold its entire 8.35% stake in electrical and power equipment company Havells India for about Rs 730 crore.

The shares were purchased by Vontobel Funds Inc through open market transactions.

Seacrest Investment, a Warburg Pincus group company, sold 58.20 lakh shares, amounting to 4.66% stake, of Havells India for Rs 407.40 crore, on the NSE.

Besides, another Warburg Pincus group firm Woodcrest Investment offloaded 46.07 lakh shares, equivalent to 3.69% stake, of the electrical and power equipment company for Rs 322.50 crore, on the BSE.

The shares were sold on an average price of Rs 750 valuing the transaction to Rs 730 crore.