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RIL in talks to buy electronics chain in South, deal may hit Rs 3,000 cr

Electronics Mart runs 60 stores and has 1.200 employees; chain was started in 1980 by local businessman Pavan Kumar Bajaj as "Bajaj Electronics" and later changed its name

Mukesh Ambani. Photo: Bloomberg
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Mukesh Ambani. Photo: Bloomberg

Dev Chatterjee Mumbai
Reliance Retail is in talks with Electronics Mart India, a consumer durables retail chain, for a possible acquisition. Electronics Mart operates 60 stores in South India with 1,200 employees on its roll.

According to a source close to the development, talks are underway on the valuation of the chain, and the ask price is Rs 3,000 crore.
 
Businessman Pavan Kumar Bajaj started the electronics chain in 1980 as “Bajaj Electronics”, and later changed its name to EMI Ltd.
 
The acquisition, if successful, will give a boost to Reliance Retail’s offline presence in South Indian markets. The Mukesh Ambani-led company recently acquired

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First Published: Sep 24 2020 | 6:26 PM IST

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