Havells India Limited — Updates, 14-04-2025: Press Release

Havells India Limited has approved a strategic minority investment of ₹600 crore in Goldi Solar Private Limited, aligning with its commitment to the growing renewable energy sector. This investment, part of Goldi's proposed fundraising of up to ₹1,300 crore, highlights Havells' interest in capitalizing on the expanding solar energy market, projected to see substantial growth with an expected CAGR of 16% until 2030.

Goldi Solar, known for its significant capacity expansion in solar module manufacturing—from 2.9 GW to 10.7 GW—plans to add an additional 4 GW by mid-2025, bolstered by a strong order book. Havells' investment gives it a stake of approximately 8.90%-9.24%, depending on the final fundraising result. The transaction, while subject to certain approvals, positions Havells strategically in the solar supply chain, leveraging partnerships to enhance its offerings in a high-growth area. Investors should watch this development closely as it represents a positive move into a multi-billion-dollar sector.