Bajaj Electricals earmarks Rs.1,000 crore for acquisitions

Last Updated: Tue, Sep 25, 2012 16:20 hrs

Kolkata, Sep 25 (IANS) Bajaj Electricals has earmarked a corpus of Rs.1,000 crore for acquisitions, preferably brand acquisitions in fan, appliances and lighting businesses, a top company official said Tuesday.

"We can go for Rs.1,000 crore acquisitions," Bajaj Electricals Ltd. chairman and managing director Shekhar Bajaj told reporters here.

"We have a very strong distribution network and a very good manufacturing backup. If we acquire a good brand, that would make a good sense," he said.

Bajaj Electricals, a part of the Bajaj Group, was looking for acquisitions in the last year also but none could take place.

Bajaj specified that the proposed acquisitions would take place in the company's existing business segments.

"There is enough scope in these businesses so there is no need to get into new businesses," he said.

He said the company, which had clocked Rs.3,200 crore total revenue in last fiscal, was eyeing a turnover of Rs.3,700 crore at the end of this fiscal.

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