Havells acquires minor stake in Goldi Solar with INR 600 crore deal

Goldi Solar has received an INR 600 crore investment from Havells India, in exchange of up to 9.24% stake to support solar module manufacturing in Surat.

By Nandini Yelabaka 17 Apr 2025 in Market Bytes

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Havells is set to complete the all-cash acquisition by June 30, 2025, pending with regulatory approvals. Image Source: Pexels

Havells India Ltd. has recently announced to acquire a 9.24% minority stake in Surat-headquartered Goldi Solar Private Limited, with an all-cash finance of INR 600 crore. The transaction is anticipated to be completed by June 30, 2025, with pending approvals from bodies including the Competition Commission of India. Goldi Solar operates entirely in India and has scaled its solar module manufacturing capacity to 10.7 GW by March 2025. The company reported audited revenues of INR 1,757(USD $211.7 million) crore in FY24 and projected INR 3,420 crore (USD $411.5 million) for FY25, maintaining EBITDA margins between 8% and 9%. The transaction is not classified as a related party deal. Havells' stock was trading at INR 1,158.60 on April 15, 2025, marking a 1.68% increase from the previous closing price and a monthly gain of 2.67%.

#Surat #SolarInvestments #GoldiSolar #Havells

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