Havell’s India appoints PwC for restructuring

New Delhi, May 7: ELECTRICAL engineering equipment manufacturer Havell’s India Ltd has appointed PriceWaterhouseCoopers to restructure the group’s business of switchgears and energy meters.

The new structure would have mainly two holding companies with switchgears under Havell’s India Ltd (HIL) fold and that of electrical meters under the TTL Ltd, a company statement said here on Monday.

‘‘The restructuring will help us manage our fast-growing business more effectively and thus continue providing the best quality products in the country,’’ Havell’s Group director Anil Gupta said. HIL would have two subsidiaries — Crabtree India Ltd and Standard Electricals — with 60-per cent stake of Standard going to HIL and the remaining 40 per cent to the original promoter JP Gupta. (PTI)