<article>Two promoters of <a href="http://dealstreetasia.com/tag/havells" target="_blank" rel="noopener">Havells India</a> have divested part of their stake in the manufacturer of electrical goods through open market transactions.</article>

Two promoters of <a href="http://dealstreetasia.com/tag/havells" target="_blank" rel="noopener">Havells India</a> have divested part of their stake in the manufacturer of electrical goods through open market transactions.
According to data available on BSE, promoters Surjit Kumar Gupta and Vinod Gupta sold a combined 2 per cent stake in Havells India for over Rs 647 crore ($102 million) through bulk deals.
Surjit Kumar Gupta offloaded 4 million shares amounting to a 0.64 per cent stake, at an average price of Rs 517.58, for Rs 207.03 crore.
Vinod Gupta sold 8.5 million shares equalling a 1.36 per cent stake in the company, at Rs 518.07 apiece, amounting to a total of Rs 440.36 crore.
On Wednesday, <a href="http://dealstreetasia.com/tag/sbi-mutual-fund" target="_blank" rel="noopener">SBI Mutual Fund </a>bought 4.5 million shares of Havells India for Rs 233.68 crore at the rate of Rs 517 apiece.
Havells India&#8217;s shares had outperformed the benchmark Sensex in the calendar year 2017. The company is targeting to more than triple its revenue to Rs 20,000 crore in five years.
In February last year, Havells India had announced the acquisition of consumer durables business of <a href="http://dealstreetasia.com/tag/lloyd" target="_blank" rel="noopener">Lloyd Electrical and Engineering Ltd</a>, run by the B.R. Punj Group, for Rs 1,600 crore.
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Promoters Surjit Kumar Gupta and Vinod Gupta sold a combined 2 per cent stake in Havells India for over Rs 647 crore ($102 million) through bulk deals.

India: Promoters sell 2% stake in Havells India for over $102m

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India: Promoters sell 2% stake in Havells India for over $102m

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