Home-grown appliances maker Bajaj Electricals will acquire the intellectual property rights of Morphy Richards, including the brand rights for India and neighbouring markets, from Glen Electric, part of Ireland-based Glen Dimplex Group.

Bajaj Electricals has informed exchanges in a regulatory filing on Tuesday after market hours that its board has approved a Rs 146 crore deal to acquire the brand rights of Morphy Richards for India, Nepal , Bhutan , Bangladesh , the Maldives , and Sri Lanka.After the announcement, shares of Bajaj Electricals Ltd were trading at Rs 609.80 on BSE, up 5.69 per cent on Wednesday morning trading hours.

Board approves Rs 146 crore acquisition deal

In the filing, Bajaj Electrical informed: “The Board of Directors of the company, at its meeting held o

See Full Page