Havells India gains on unit listing hopes in London

Reuters Market Eye - Shares in Havells India Ltd gain as much as 2.9 percent to a record high of 853.95 rupees after the Economic Times reported the electrical goods maker is planning to list its European subsidiary Sylvania Global on the London Stock Exchange, citing Sylvania President Rajiv Goel.

Goel did not provide a timeline for the listing, or the amount it intends to raise, according to the newspaper. (http://link.reuters.com/jep57v)

A Havells India spokesman said there was no specific timeline for a listing.

"Currently there are no plans of listing the European subsidiary Sylvania Global in the near future," he said.

Shares of Havells India are up 1.8 percent at 1.51 p.m.

 

(Reporting by Dipika Lalwani)