Havells India, the electrical goods manufacturer, is planning to list Sylvania Global on the London Stock Exchange, according to media reports.
Shares of Havells India , the electrical goods manufacturer, climbed as much as 2.75 percent intraday Wednesday as media reports indicated that the company is planning to list Sylvania Global on the London Stock Exchange.
"Havells is planning to raise money by listing its European subsidiary Sylvania Global on the London Stock Exchange to fund acquisitions of brands or companies in Latin America and Europe," the report said.
Sylvania, designer and manufacturer of lighting products, was acquired by Havells India for euro 227.5 million in April 2007. It has plants in Europe, Asia, North Africa and Central and South America.
Meanwhile, Havells India had reported a 28.32 percent increase in its standalone net profit to Rs 121.47 crore for the third quarter ended December 31, 2013. Net sales of the company increased to Rs 1,174.03 crore for the third quarter from Rs 1,052.09 crore year-on-year.
At 12:06 hours IST, the stock climbed 1.7 percent to Rs 843.60 on the Bombay Stock Exchange.
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