US co Janus picks up 5.16% stake in Havells

Written by Press Trust of India | New Delhi | Updated: Feb 27 2013, 09:21am hrs
Electrical goods maker Havells India on Tuesday said US-based financial institution Janus has picked up 5.16% stake in the company for an estimated Rs 420 crore.

In a filing to the BSE, the National Capital Region-based Havells India said Janus Investment Funds and Janus Aspen Series have bought 64,42,728 equity shares, representing 5.16% holding of the company.

The shares were purchased on February 5 this year through open market transactions, it added.

Although financial details were not shared, according to the closing share price of Havells India on BSE on the day of the transaction R653.40 apiece, the foreign firm is estimated to have invested over R420 crore.

Share of Havells India was trading 1.68% down at R639.60 apiece on BSE during afternoon session.