Bajaj Electricals has sold its entire 50% stake in Bajaj Venture to Black & Decker India. The company has offloaded 1,50,00,000 equity shared of Rs 10 each under Share Purchase Agreement on September 17, 2012 at a consideration of Rs 23.96 per share.
Bajaj Electricals’ products are manufactured in three factories in the country apart from being sourced from overseas partners. The consumer electrical equipments manufacturer aims revenue of Rs 551 crore from lighting business this year, registering a growth of about 30% over last year’s Rs 430 crore.
