The total deal, comprising 55% stake, open offer and trademarks, will be worth Rs 2,076.63 crore and is expected to be financed through a mix of internal accruals and debt
Crompton Greaves Consumer Electrical expects demand, hit by demonetisation, to be back to normal in 3-6 months.
Shantanu Khosla, Managing Director of Crompton Greaves, said that the company is looking for a larger play in the premium fans segment and it plans to unveil a series of innovative products in the segment to strengthen its position.
In an interview to CNBC-TV18, Shantanu Khosla, MD of Crompton Greaves Consumer Electrical said that they want to grow the topline faster than the market.
"Shantanu brings with him rich experience of managing consumer business across markets, product categories and functions," Crompton Greaves said in a BSE filing.
Procter & Gamble's net sales in the quarter under review stood at Rs 492.75 crore, an increase of 31.41 percent as against Rs 374.96 crore in the year-ago period, the company said in a BSE filing.