Havells Acquires Blume’s Portfolio, Promptec For $10mn

Havells India has acquired majority stake of 51% in Promptec Renewable Energy Solutions at an enterprise value of Rs 65crs. Bangalore based, Promptec Renewable Energy Solutions is manufacturer of LED…

Havells India has acquired majority stake of 51% in Promptec Renewable Energy Solutions at an enterprise value of Rs 65crs. Promptec logo_1
Bangalore based, Promptec Renewable Energy Solutions is manufacturer of LED and Solar lighting products. With this acquisition, Havells would expand its footprints into two high growth lighting verticals of LED and Solar energy.
Post acquisition the Promoter group of Promptec would hold 49% stake in the company and continue to contribute to the high growth trajectory for the company.
Blume Ventures was the only institutional investor in Promptec.

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