Goldi Solar Pvt. Ltd announced that it has signed a binding term sheet to receive INR 13 billion on April 15, 2025. The transaction will include participation from new investor, Havells India Limited for INR 6 billion and will acquire 8.9% to 9.24% stake in the company depending on the final round size, and will receive customary shareholder rights including a board seat and investor reserve matters.
The transaction is subject to customary conditions precedent, including approval from the Competition Commission of India. The transaction is expected to complete with in 75 days. As a part of the transaction Havells India Limited will get a board seat in the company.
Havells India Limited is an India-based fast moving electrical goods (FMEG) company. The Company is also engaged in the manufacturing of power distribution equipment. The Company’s products include industrial and domestic circuit protection devices, cables and wires, motors, fans, modular switches, home appliances, air conditioners, electric water heaters, power capacitors, luminaires for domestic, commercial, and industrial applications. The Company has brand showroom in the electrical industry, namely Havells Exclusive Brand Stores. It has approximately 700 plus Havells Exclusive Brand Stores across the country, which helps customers, both domestic and commercial, to choose from a variety of products for different applications. It owns various brands, Havells Studio, Havells, Lloyd, Havells Crabtree, REO. Its consumer products include fans, lighting, switches, home appliances, home electricals, switchgears, smart home, home advisor, home art lights.
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