The Karnataka Industrial Areas Development Board has allotted land admeasuring 62.09 acres to the Havells India, at Vasanthanarasapura Industrial Area, Tumakuru in Karnataka for establishing a Unit for manufacturing of Cable & Wire, MCB, LED, Electronics, Solar Lights at a tentative rate of Rs. 40.35 lakhs per acre.
Havells India also informed BSE that it has entered into a non-binding MoU with Pan Projects for taking on lease the land for setting up of manufacturing facility in Assam to avail of the rebates and benefits under the policies of Government of India and Assam. The arrangement is subject to change of land use and various other government approvals.
With respect to the earlier communication sent to the Stock Exchanges on 4th January, 2013, QRG Enterprises Limited, one of the promoter companies, has vide an Assignment Agreement dated 9th May, 2016, completed the assignment of the brand "HAVELLS" for electrical products, to the Company effective 1st April, 2016."
