Schneider Electric India Pvt Ltd is reportedly planning to
acquire majority stake in Luminous Power Technologies Pvt
Ltd, a leading Delhi-based energy-storage device company.
Set up in 1988 by Rakesh Malhotra, Navneet Kapoor, and Sunil
Bhalla, Luminous is a major producer of inverters, uninterruptible
power supply (UPS) systems and batteries. It has manufacturing
locations at Una in Himachal Pradesh and in China. The company's
technology centres are located in India, USA and China.
Schneider is specifically keen on the battery operations of
Luminous Power Technologies, it is learnt. It is also learnt that
CLSA Partners that had invested $20 million in Luminous in 2007
may exit from the company. Incidentally, Luminous had acquired a
controlling stake in Tritronics (India), a North India based UPS
manufacturer firm, to make further inroads in the UPS market.
Eight acquisition in India: Schneider entered India in 1963
through a JV with Tata Group. In 1995, Schneider Electric Pvt Ltd, a
wholly-owned subsidiary of its French parent Schneider Electric
Industries SAS, was formed. Schneider is focusing on the "energyefficiency"
market in India and its proposed acquisition of
Luminous is a step in this direction. If the deal goes through, it
would be the eighth acquisition for Schneider in India.
Untitled Document
SCHNEIDER'S ACQUISITIONS IN INDIA |
Company |
Year |
| APW President Systems |
2011 |
| Smartlink Network Systems (Digilink) |
2011 |
| Zicom (Security solutions integration) |
2010 |
| Conzerv Systems |
2009 |
| Meher Capacitors |
2009 |
| S&S Switchgear Ltd |
2000 |
| Crompton Greaves (LV switchgear division) |
2000 |