The proposed transaction covers territorial rights across India, Nepal, Bhutan, Bangladesh, the Maldives and Sri Lanka
The board of directors of Bajaj Electricals has given consent to acquire the Morphy Richards brand and related intellectual property rights from Glen Electric, which is a part of Ireland’s Glen Dimplex Group, for Rs 146 crore.
The board meeting held on 23 September 2025 approved the proposed transaction, which covers territorial rights across India, Nepal, Bhutan, Bangladesh, the Maldives and Sri Lanka. The consideration excludes applicable taxes and duties. The acquisition will be subject to negotiation and execution of definitive agreements between the parties, as well as statutory and regulatory clearances.
“The company, at its meeting held on 23 September 2025, has approved the acquisition of the Morphy Richards brand and related intellectual property rights in India, Nepal, Bhutan, Bangladesh, the Maldives and Sri Lanka from Glen Electric, part of the Glen Dimplex Group, Ireland, for a consideration of Rs 146 crore (exclusive of applicable taxes and duties),” Bajaj Electricals highlighted in a regulatory filing.
The filing further noted that further disclosures related to the acquisition would be made as the process advances. Shares of Bajaj Electricals reacted positively to the development, rising over 13 per cent to an intraday high of Rs 653.60 on the BSE, reversing a four-session losing streak.
Bajaj Electricals has been associated with the Morphy Richards brand in India for more than two decades under a licensing arrangement. The arrangement has been extended multiple times, most recently in March 2022.
