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Warburg Pincus invests $110m in Havells India22/10/2007. Source: AltAssets. 
 Warburg Pincus has invested $110m in electrical and power distribution equipment company Havells India. Havells is expected to issue fresh shares and warrants to Warburg Pincus, representing approximately 11.2 per cent of the fully diluted share capital of the company.
The transaction follows on from Havells's acquisition of SLI Sylvania's lighting business to enhance their global presence.
Julie Johnson Staples, head of communications, Warburg Pincus, said, 'Our investment in Havells India Limited is reflective of our confidence in the management team of the company, its strong brand and distribution capability, as well as in the growth potential presented by the electrical products and power distribution segment. We look forward to working together with Havells India's management team to help the company achieve its long term vision.'
Havells India is a $1.2bn enterprise, manufacturing products ranging from building circuit protection, industrial and domestic switchgears, cables and wires, energy meters, fans, CFL lamps, luminaries for domestic, commercial and industrial application, and modular switches.
Warburg Pincus has approximately $20bn of assets under management. The firm's past and current investments in India have included Ambuja Cements, Bharti Airtel, Dainik Bhaskar, Housing Development Finance Corporation, Kotak Mahindra Bank, Max India, Moser Baer, Nicholas Piramal, Punj Lloyd, Sintex Industries, Lemon Tree Hotels and WNS Global Services.
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