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Article: WARBURG PINCUS ACQUIRES OVER 6.7 MLN SHARES IN HAVELLS INDIA.
- Article from:
- AsiaPulse News
- Article date:
- December 7, 2007
CopyrightCOPYRIGHT 2007 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MUMBAI, Dec 7 Asia Pulse - Global equity firm Warburg Pincus has acquired over 67,60,000 securities in electrical and power distribution equipment company Havells India (BSE:517354) for Rs 4.39 billion (US$111.4 million).
The company has issued 41,60,000 equity shares and 26,00,000 convertible warrants to Seacrest Investment, a Warburg Pincus group company, Havells India said in a filing to the Bombay Stock Exchange.
Havells India has allotted 4,160,000 equity shares of Rs 5 each at Rs 625 per share aggregating to Rs 2.6 billion and 26,00,000 warrants convertible into equal number of shares at Rs 690 per each totalling Rs 1.79 billion.
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