Warburg sells stake in Havells India
Warburg Pincus has sold an 8.35% stake in electrical products maker Havells India for INR7.2 billion ($129.5 million) on the open market. The private equity firm sold 10.4 million shares at INR700 apiece, below the NR708 price at which the stock had been trading. Vontobel has bought 10.2 million shares for INR7.1 billion.
Warburg Pincus has made more than INR11.75 billion ($208.5 million) from the sale of Havells' shares over the years. It originally paid about $122.42 million for 15% of the company. In February this...
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