Bajaj Electricals Limited entered into an agreement to acquire 80% stake in Nirlep Appliances Private Limited.
June 14, 2018
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Bajaj Electricals Limited (BSE:500031) entered into an agreement to acquire 80% stake in Nirlep Appliances Private Limited on June 15, 2018. Consideration will be paid in cash. Bajaj Electricals will acquire 80% of the shares on the closing date and has received a call option to acquire the remaining 20% stake in Nirlep after the closing date. Total consideration will be INR 425 million. Subsequent to the proposed acquisitions, Nirlep will become a wholly owned subsidiary of Bajaj Electricals. Deal is expected to close within 60 days from the date of the agreement. Rajesh Pal, Aarti Iyer, Vishal Shah of J. Sagar Associates acted as legal advisors for Bajaj Electricals Limited. Martand Singh, Siddharth Dang, Alok Sharma and Sonali Shendge of Vaish Associates acted as legal advisors for Nirlep Appliances Private Limited. Gaurav Agarwal of Singhi Advisors acted as financial advisor for the deal.
Bajaj Electricals Limited is engaged in the marketing of various consumer household and industrial goods. The Company operates through two segments: Consumer Products and Lighting Solutions. The Consumer Products segment is engaged in the manufacturing and trading of consumer durables products which includes fans, domestic appliances, kitchen appliances, and non-electrical kitchen aids. The Lighting Solutions segment is engaged in the manufacturing and trading of lighting products which includes light-emitting diode (LED) products, such as lamps, bulbs, battens and ceiling lights in consumer lighting and poles, high mast, street lighting, area lighting, in professional lighting. It also provides various fans comprising ceiling, pedestal, table, wall, personal, domestic, and others. It also involved in the engineering, procurement and commissioning of power transmission and power distribution infrastructure. It operates approximately 2,00,000 retail outlets.
BAJAJ ELECTRICALS LIMITED 
