Bajaj Electricals looking at acqusitions worth upto Rs 1000 crore

Confirming that Bajaj Electricals is looking for acquisitions, CMD, Shekhar Bajaj said that though the company is on the lookout, nothing concrete has come up. Bajaj said that high pricing by sellers is a major reason as to why acquistions haven't fructified as of yet. He said that Bajaj Electricals would invest a maximum of Rs 1000 crore for an acquistion.

Bajaj said that there are opportunities at present as Europe and major western economies are in a slowdown. He also said that there are a number of Indian companies which are not doing well and are a potential target for acquisition.

He said that acquiring an Indian company would give Bajaj Electrical the advantage of its strong distribution network and good brand equity. He added that the company is not looking to extend its offering to a new product space and is instead looking at aqusitions in electrical appliances and lighting segment.

Shekhar Bajaj said that the company is looking to acquire strong brands which could be distributed well by Bajaj Electricals' distribution channel.