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News

Luminous - Schneider Electric signs an Agreement to buy 74% stake in Luminous Power Technologies. From a small beginning, over 20 years back, Luminous Power Technologies has grown to become a strong market leader in the area of power backup systems and industrial batteries in India. Luminous has emerged as the preferred brand in India with a wide distribution network of over 900 distributors serving over 25,000 retail outlets. LPT is ready to expand its portfolio to include Home Electricals and Energy Efficiency products to power its future growth. Mr Rakesh Malhotra, Founder & Chairman of the Company said “We are glad to have Schneider Electric as a partner in Luminous Power Technologies. We are looking forward to exciting growth of our current businesses in India and other parts of the world by leveraging this relationship. Luminous Power Technologies will also benefit in terms of accessing a strong product and technology platform of Schneider Electric in the area of Home Electricals and Energy Efficiency products. We will now be able to offer a more compelling & complete portfolio to our consumers and business partners. This partnership will bring strong benefits to customers, employees & business partners in the years to come” The institutional share holder (Private equity Investor & SAR capital) , Employee Shareholders Charitable Trusts holding shares in the company & some by Founders adds up to 74% stake being bought by Schneider Electric. The Founders will continue to hold most of their shares and retain 26% stake in the company and will continue to be actively involved in the future growth of the Company in India and around the world. The co-promoters of Luminous Mr. Navneet Kapoor & Mr. Sunil Bhalla, said that it’s a matter of great pride and achievement having seen Luminous in this stage and we are glad to welcome Schneider Electric as a partner in Luminous. Grant Thornton India was the sole Financial Advisor to Luminous on the transaction.

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