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Tag: Anil Rai Gupta

  • Rakesh Rajput bids adieu to Havells after 21 years

    Rakesh Rajput bids adieu to Havells after 21 years

    MUMBAI: Havells India Ltd has announced the resignation of Rakesh Rajput as executive vice president for sales & marketing of the cable division effective 11 March 2025. Rajput, who has been a key pillar of the organisation for over two decades, is stepping down for personal reasons, bringing an emotional close to his illustrious 21-year tenure.

    In his resignation letter, Rajput expressed gratitude to Anil Rai Gupta, chairman & MD of Havells, and the late Qimat Rai Gupta, acknowledging their trust and support in shaping his career. “This was a difficult decision, but the memories and experiences I have gathered at Havells will always stay with me,” he wrote, reflecting on his journey with the company.

    Havells, one of India’s top electrical goods companies, has yet to announce a successor for the EVP role. The company’s leadership transition comes at a time when it continues to expand its market presence in the consumer and industrial segments.

    Rajput’s departure marks a significant shift in Havells’ senior management, as the company navigates a dynamic business landscape. Industry insiders anticipate an announcement regarding the next phase of leadership soon. This resignation was formally communicated to the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) in compliance with SEBI’s listing obligations.

  • Havells India eyes consumer durables; to acquire Lloyd brand

    MUMBAI: It’s made its mark in the electrical appliances and components sector, courtesy it highpowered media and advertising blitz in TV and in print. Now branding champion Havells India is looking to replicate that feat in the consumer durables business sector too. Over the weekend the company announced that it has received board approval to acquire Lloyd Consumer Durable Business Division at an enterprise value of Rs 1,600 crore.

    The transaction will take about eight weeks to be executed. The company has signed an in-principle agreement with Lloyd Electrical and Engineering Ltd and Fedders Lloyd Corp Limited to acquire the Lloyd brand and the consumer durable business that is engaged in sourcing, assembling, marketing and distribution of consumer durables including air-conditioners, TVs, washing machines and other household appliances.

    Havells will acquire the consumer business infrastructure, people, distribution network including and not limited to absolute, exclusive ownership and right to all intellectual property of Brand Lloyd, logo, trademark, goodwill and attendant rights

    Havells is a major brand in the electrical appliances in components sector and is know for its focused advertising – especially for its tough wires.

    Lloyd has, over the last decade, built a brand, distribution and service network to provide a comprehensive experience to its consumers. It is among the top 3 brands in air‐conditioners’ category with a well‐entrenched national network in Tier I and II cities. The brand has expanded into TVs and Washing machines as well.

    Havells India CMD Anil Rai Gupta said, “The proposed acquisition is in line with Havells objective of ‘Deeper into Homes’, driving domestic expansion and owning a brand and distribution oriented asset. We would leverage and extend the trust associated with brand Havells to consumers, dealers, vendors of Lloyd and create a similar recognition in the consumer durables segment.”