Bajaj Electricals Ltd on Monday (March 16) said it has executed a definitive agreement to acquire the intellectual property and brand rights of Morphy Richards in India, Nepal, Bhutan, Bangladesh, Sri Lanka, and the Maldives for ₹141.4 crore. The acquisition covers trademarks, domain names, social media accounts, and associated goodwill, giving Bajaj Electricals full ownership of the brand in these territories.
The payment for the acquisition will be made in three instalments in pound sterling: ₹49 crore on the transfer date, ₹49 crore on or before March 31, 2027, and ₹43.4 crore on or before March 31, 2028.
The release of payment will require 10 business days. The total consideration, including withholding tax and stamp duty, is ₹168 crore, and the total cash outflow, including GST at 18% (available/recoverable as input tax credit), is ₹197.47 crore.
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The acquisition also terminates the previous trademark licence agreement with Glen Electric Limited, originally dated March 17, 2022, and novated to Glen Electric in December 2022. Outstanding royalties of £641,780.14 are payable by Bajaj Electricals to Glen Electric under the termination agreement.
“This acquisition is a natural next step in our portfolio journey. Over the years, we have understood Indian consumers’ evolving needs for convenience, design, and reliability. Acquiring the Morphy Richards brand gives us the strategic flexibility to invest more consistently, innovate faster, and accelerate growth across premium consumer segments,” said Sanjay Sachdeva, MD and CEO, Bajaj Electricals.
Morphy Richards, founded in the UK in 1936, has a strong global reputation for premium, design-led home appliances and personal care products. In India, Bajaj Electricals has managed the brand under licensing arrangements since 2002, making it one of the leading international brands across multiple product categories.
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“We are pleased to entrust the Morphy Richards brand in India and neighbouring markets to Bajaj Electricals. Their proven track record and deep understanding of the local consumer landscape give us confidence that the brand will continue to thrive and evolve,” said Fergal Naughton, Executive Chairman, Glen Dimplex.
Shares of Bajaj Electricals Ltd ended at ₹360.05, down by ₹14.10, or 3.77%, on the BSE today, March 16.
(Edited by : Shoma Bhattacharjee)
First Published: Mar 16, 2026 8:21 PM IST
