Havells India plans sub-division of equity shares

Company's scrip closed at Rs 1,103.45, down 0.01% on the BSE

Electrical goods manufacturer Havells India is planning sub-division of its equity shares for which it will seek board approval next week.

"A meeting of the Board of Directors of the Company will be held on June 30, 2014, to consider and approve the sub-division of the nominal value of Equity shares of the Company," Havells informed BSE.

The company however did not elaborate on the plans. When contacted, Havells spokesperson declined to comment.

Havells India scrip closed at Rs 1,103.45, down 0.01% on the BSE.

A $1.3 billion company, it manufactures Industrial & Domestic Circuit Protection Switchgear, Cables & Wires, Motors, Fans, Power Capacitors and CFL Lamps.

It also manufactures luminaries for domestic, commercial & industrial applications, modular switches, water heaters and domestic appliances.

Havells owns brands as Crabtree, Sylvania, Concord, Luminance and Standard has 91 branches spread over 50 countries across the globe.

It has 14 manufacturing units in India located at Haridwar, Baddi, Noida, Faridabad, Alwar, Neemrana and six in Europe, Latin America and Africa.