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Havells shares in focus as board clears 26% stake buy in solar SPV for captive power

Havells India has approved the acquisition of a 26% stake in Kundan Solar (Pali) Pvt Ltd, a special purpose vehicle developing a 15 MWac solar power plant, as part of its strategy to reduce reliance on fossil fuels and lower power costs in Rajasthan. The Rs 5.63 crore investment, to be completed by June 30, 2026, will support a long-term power purchase agreement of up to 25 years, with the company expecting savings in power costs and a payback within 1218 months from commissioning.