Havells India to invest Rs300 crore to set up cable manufacturing unit at Tumakuru land

1 Sep 2022 , 09:19 AM

Havells India Limited has announced that Karnataka Industrial Areas Development Board had allotted land to the Company at Vasanthanarasapura Industrial Area, Tumakuru located in the state of Karnataka for establishing a manufacturing unit.

As per the regulatory filing, the Company is now beginning to setup a Cable manufacturing unit in the above said region for a proposed annual capacity of 3,48,000 kilometer with an estimated investment of Rs300 crore excluding the value of existing land of the Company at Tumakuru. 

Further, the entire investment will be funded through internal accruals and the production at the proposed unit at Tumakuru is expected to start by March 2024.

The proposed unit for manufacturing of Cable at Tumakuru is in addition to the existing manufacturing facility of the Company at Alwar in Rajasthan, the company said in a filing.

At around 9:19 AM, Havells India Ltd is currently trading at Rs1,386.60 per share down by Rs4.75 or 0.34% from its previous closing of Rs1,391.35 per share on the BSE.

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