Bajaj Electricals has entered into a Share Purchase and Shareholders Agreement on June 15, 2018 with Nirlep Appliances and its shareholders for the acquisition of entire shareholding of Nirlep. Subsequent to the proposed acquisition, Nirlep will become a wholly owned subsidiary of the company.
The company has proposed to acquire the entire shareholding of Nirlep in cash, for a consideration of Rs 42.50 crore, subject to adjustments of any additional liabilities for the period prior to acquisition. The proposed acquisition will provide a portfolio of products which complements with the offerings of Bajaj Electricals and is a perfect synergic blend.
Bajaj Electricals is an electrical equipments manufacturing company. It is engaged in the manufacturing of domestic appliances such as water heaters, mixers, food processors, microwave ovens, air coolers, steam & dry irons, etc.
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