Havells India: Intimation Under Regulation 30 | Value Research

Havells India: Intimation Under Regulation 30

This is in continuation of our earlier intimation dated 10 May 2016 whereby it was informed that Karnataka Industrial Areas Development Board had allotted land to the Company at Vasanthanarasapura Industrial Area Tumakuru in the state of Karnataka for establishing a manufacturing unit.We would like to inform that the Company is now beginning to setup a Cable manufacturing unit in the abovesaid region for a proposed annual capacity of 3 48 000 kilometer with an estimated investment of INR 300 crores excluding the value of existing land of the Company at Tumakuru. The entire investment will be funded through internal accruals. The production at the proposed unit at Tumakuru is expected to commence by March 2024.The proposed unit for manufacturing of Cable at Tumakuru is in addition to the existing manufacturing facility of the Company at Alwar Rajasthan.

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