FACT FOOD #611

Havells, the billion dollar electric equipment company was acquired by Qimat Rai Gupta in 1971. Havells is the anglicised name of Haveli Ram Gandhi, who sold his switch-gear company to Gupta for INR 700,000. Since then, the company has diversified into cables, lightings, appliances, fans and geysers. Qimat Rai Gupta passed away in 2014, leaving the company’s reigns on his son Anil Rai Gupta and nephew Ameet.