Havells has announced its decision to acquire the remaining 20% stake in Havells HVAC LLC from Salesmark Ventures LLC. This acquisition will make Havells HVAC LLC a wholly-owned subsidiary of Havells International Inc. The decision was finalized during a board meeting held on October 6th, 2025. With this acquisition, Havells aims to have full control over its HVAC operations in the United States.
Full Ownership Acquisition
Havells is set to acquire the remaining 20% stake in Havells HVAC LLC, as decided by the Executive Committee of the Board of Directors on October 6th, 2025. This move will result in Havells HVAC LLC becoming a wholly-owned subsidiary of Havells International Inc.
Havells HVAC LLC Details
Havells HVAC LLC is organized under the laws of the State of Florida, USA. It focuses on the marketing and selling of various portable air conditioning units and related accessories. These products belong to brands owned by Havells India Limited within the United States.
Background of the Joint Venture
The initial joint venture agreement, with a ratio of 80:20, was executed on February 14th, 2024. This agreement outlined the share capital split between Havells International Inc and Salesmark Ventures LLC. The current acquisition will now consolidate full ownership under Havells International Inc.
Source: BSE
