Havells and Voltas in race for Videocon's Kenstar brand

Videocon is selling the Kenstar brand to reduce its debt that has gone up to Rs 43,000 crore

A host of Indian consumer electronics companies like Havellsand Voltas, besides private equity companies, are in a race to buy out Videocon Industries’ Kenstar brand to increase their market share. Videocon is selling Kenstar to reduce its debt, at Rs 43,000 crore as of March this year.

According to a banker close to the development, most of the companies have bid for the brand which is a household name in air coolers, microwaves and air conditioners. The banker did not disclose the names of the private equity firms that are in the race but said Credit Suisse is handling the