Havells to Acquire 26% Stake in Kundan Solar to Boost Clean Energy Shift

Havells India has announced plans to purchase a 26% stake in Kundan Solar (Pali) Pvt Ltd, strengthening its long-term clean energy strategy while targeting lower operational power costs. 

Havells Investment Plan and Project Benefits 

The company will invest ₹5.63 crore in multiple tranches linked to construction milestones as Kundan Solar develops a 15 MWac solar power plant in Rajasthan. Once operational in Q2 FY26–27, Havells plans to sign a power purchase agreement of up to 25 years to secure consistent renewable power.  

The company noted that the move supports its shift away from fossil fuels and will reduce energy expenses at its Rajasthan plants, offering a payback window of 12–18 months post-commissioning.  

It added that while promoters of Kundan Group are related to one of Havells’ promoters, the Havells promoter group has no interest in the SPV whose shares are being acquired. 

Strategic Direction and Leadership Perspective 

Havells said the stake purchase fits its broader sustainability roadmap and long-term vision for energy stability. The company highlighted that the partnership will enhance efficiency, strengthen future capacity planning and support its clean power transition.  

It described the investment as a step that aligns commercial goals with the growing need for reliable renewable energy sources. 

Read More: India's Green Transition Could Unlock $4.1 Trillion in Investment and Create 48 Million Jobs by 2047: CEEW Study! 

Havells India Share Price Performance  

As of November 27, 2025, at 1:05 PM, Havells India Ltd share price is trading at ₹1,431.50 per share, reflecting a decline of 0.58% from the previous closing price. Over the past month, the stock has declined by 4.09%. 

Conclusion 

With this planned acquisition, Havells is deepening its clean-energy footprint and securing a more cost-efficient power pipeline, reinforcing its long-term growth and sustainability objectives. 

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