Havells Acquires 26% Stake in Kundan Solar Pali to Power Renewable Energy Push

Havells India has approved the acquisition of a **26% stake in Kundan Solar Pali Pvt Ltd**, marking a strategic expansion into renewable energy for its Rajasthan manufacturing units. The all-cash investment of **₹5.63 crore**, to be paid in milestone-linked tranches by **June 30, 2026**, gives Havells the minimum shareholding required to qualify as a **captive consumer** under electricity laws. Kundan Solar—a 2025-incorporated SPV under Kundan Group—is developing a **15 MWac solar plant**, expected to be commissioned in **Q2 FY26-27**. Havells expects a **12–18 month payback** post-commissioning due to lower energy costs, supported by a long-term **25-year PPA**. While the Kundan Group is related to one of Havells’ promoters, the company confirmed the deal is at **arm’s length** and has **Board approval**. **Disclaimer:** For information only, not investment advice. **Follow for more:** Fast, credible business & market updates.