Bajaj Electricals share price: Bajaj Electricals shares zoomed as much as 10.27% to hit a high of ₹398 apiece in the early trade on Tuesday, March 17, after the company, on Monday, post-market hours, announced the signing of a definitive agreement to acquire the intellectual property and brand rights of Morphy Richards in India and select South Asian markets for a consideration of ₹141.4 crore.
"This landmark move builds upon more than two decades of successful collaboration under licensing agreements and enables Bajaj Electricals to fully own and steer the Morphy Richards portfolio in India, Nepal, Bhutan, Bangladesh, Sri Lanka, and the Maldives," the company added.
Morphy Richards, founded in the UK in 1936, has built a strong reputation globally for its premium, design-led home appliances and personal care products. In India, since 2002, Bajaj Electricals has nurtured the brand under licensing arrangements, making it one of the leading international brands in many product categories in the country.
In 2022, the parties extended their trademark licensing agreement for 15 years, reaffirming the long-term commitment.
With this acquisition, Bajaj Electricals will strengthen its multi-brand strategy, enabling deeper investments in innovation, design, and go-to-market execution, it added.
The company anticipates creating greater value for consumers, channel partners, and shareholders by owning full control of the brand in the regions.
What the CEO said
Sanjay Sachdeva, MD and CEO, Bajaj Electricals Limited, said, "This acquisition is a natural next step in our portfolio journey. Over the years, we have understood Indian consumers' evolving needs for convenience, design, and reliability. Acquiring the Morphy Richards brand gives us the strategic flexibility to invest more consistently, innovate faster, and accelerate growth across premium consumer segments."
About Bajaj Electricals
Bajaj Electricals is a consumer appliances and lighting solutions company. Headquartered in Mumbai with a turnover of ₹4,828 crore (FY 24-25), it is a part of the $100 billion multinational conglomerate Bajaj Group, founded by Jamnalal Bajaj. The company was established in 1938.
Bajaj Electricals' business portfolio spans Consumer Products (Appliances and Fans) and Lighting Solutions (Consumer and Professional Lighting). They are prominent names in the industry, with their key brand offerings comprising BAJAJ and Morphy Richards.
Under their Lighting Solutions business, they offer a wide range of innovative LED lamps and fixtures, including panels and battens; street lighting; sports lighting; industrial, commercial, and infrastructural lighting; and undertake specialised illumination projects on a turnkey basis, amongst other solutions.