Bajaj Electricals shares erase early gains, end 5% lower
The deal grants Bajaj Electricals absolute and perpetual ownership of the UK-founded brand across India, Nepal, Bhutan, Bangladesh, Sri Lanka, and the Maldives, the filing stated.
- Mar 17, 2026,
- Updated Mar 17, 2026 5:03 PM IST
Shares of Bajaj Electricals Ltd, which had surged in early trading on Tuesday following the announcement of an agreement to acquire the Morphy Richards brand rights, later gave up all gains and ended lower. The stock declined 5.13 per cent to close at Rs 342.25, wiping out its entire intraday rise.
In a regulatory filing, the firm confirmed it is acquiring the business' intellectual property, including registered trademarks, domain names, and associated goodwill, from Ireland-based Glen Dimplex Group's entity, Glen Electric Ltd.
The transaction grants Bajaj Electricals absolute and perpetual ownership of the UK-founded brand across India, Nepal, Bhutan, Bangladesh, Sri Lanka, and the Maldives, the filing stated.
The total cash outflow for the deal is pegged at Rs 197.47 crore. The core consideration of Rs 141.40 crore will be paid in GBP sterling across three instalments: Rs 49 crore upon the transfer date, another Rs 49 crore by March 31, 2027, and a final Rs 43.40 crore by March 31, 2028, according to exchange filing details.
"This acquisition is a natural next step in our portfolio journey," said Sanjay Sachdeva, MD and CEO of Bajaj Electricals Limited. Pointing to the shifting landscape of Indian consumer needs, he added that owning the brand provides the "strategic flexibility to invest more consistently, innovate faster, and accelerate growth across premium consumer segments".
Separately, Bajaj Electricals also announced changes in its leadership team. The company's board approved the appointment of Suketu Shah as interim Chief Financial Officer (CFO) and key managerial personnel, effective March 16, 2026.
Shares of Bajaj Electricals Ltd, which had surged in early trading on Tuesday following the announcement of an agreement to acquire the Morphy Richards brand rights, later gave up all gains and ended lower. The stock declined 5.13 per cent to close at Rs 342.25, wiping out its entire intraday rise.
In a regulatory filing, the firm confirmed it is acquiring the business' intellectual property, including registered trademarks, domain names, and associated goodwill, from Ireland-based Glen Dimplex Group's entity, Glen Electric Ltd.
The transaction grants Bajaj Electricals absolute and perpetual ownership of the UK-founded brand across India, Nepal, Bhutan, Bangladesh, Sri Lanka, and the Maldives, the filing stated.
The total cash outflow for the deal is pegged at Rs 197.47 crore. The core consideration of Rs 141.40 crore will be paid in GBP sterling across three instalments: Rs 49 crore upon the transfer date, another Rs 49 crore by March 31, 2027, and a final Rs 43.40 crore by March 31, 2028, according to exchange filing details.
"This acquisition is a natural next step in our portfolio journey," said Sanjay Sachdeva, MD and CEO of Bajaj Electricals Limited. Pointing to the shifting landscape of Indian consumer needs, he added that owning the brand provides the "strategic flexibility to invest more consistently, innovate faster, and accelerate growth across premium consumer segments".
Separately, Bajaj Electricals also announced changes in its leadership team. The company's board approved the appointment of Suketu Shah as interim Chief Financial Officer (CFO) and key managerial personnel, effective March 16, 2026.