Bajaj Electricals says interested in acquisitions

The Shekhar Bajaj-spearheaded Bajaj Electricals is open to acquisitions, both domestic and overseas, in its related lines of businesses with the ticket-size in the range of $25-50-million, a top company official said.        

"There are a number of weak companies in our related lines of businesses, especially in fans and lighting. We would, particularly, welcome an overseas acquisition. Our own investment in such an acquisition would be around $25-million," Bajaj Electricals' Chairman, Shekhar Bajaj, told PTI here today.        

The company would be interested in a foreign buy, especially in a company with a strong distribution and brand equity in Europe, he said.        

"The foreign company could source products from India and with its strong distribution and brand equity, Bajaj Electricals would then get a strong foothold in the overseas market," Bajaj said.        

Though the company keeps receiving proposals, there was, however, "nothing hot" presently on the acquisition front, Bajaj said.        

Funding an acquisition would pose no problem with the company capable of bringing in around $25-million while additional funding could be sourced from banks, he said.