OCTOBER, 20259BAJAJ ELECTRICALS ACQUIRES MORPHY RICHARDS IN 146 CR DEALPURPLE STYLE LABS FILES IPO, PLANS FRESH EQUITY ISSUEIn an important development for the home appliances sector, Bajaj Electricals has unveiled its purchase of intellectual property rights of Morphy Richards, including brand rights for India and countries in the surrounding region, from Glen Electric based in Ireland. Glen Electric is part of Glen Dimplex Group.The board of Bajaj Electricals cleared the 146 crore purchase on September 23, 2025, and the firm disclosed the purchase to stock exchange seconds after the market closed for the day.This purchase has given Bajaj Electricals ownership of the Morphy Richards brand in India, Nepal, Bhutan, Bangladesh, Maldives, and Sri Lanka.Bajaj Electricals stated that the acquisition is subject to definitive agreement execution and statutory and regulatory approvals. Since the announcement, shares of Bajaj Electricals traded up 5.69 percent during Wednesday morning trading at 609.80 at the BSE.Bajaj Electricals has been associated with Morphy Richards for over 20 years after it upgraded its trademark licensing agreement in 2022 for an additional 15 years. This increase in ownership will allow the company to further strengthen its footprint in the premium segment of appliances across product ranges covering mixers, ovens, air fryers, coffee makers, and personal grooming products such as hair dryers and straighteners.Industry experts view this acquisition as a strategic step, enabling Bajaj Electricals to directly own and expand the Morphy Richards portfolio in South Asia's growing consumer appliances market. The parent business of Pernia's Pop-Up Shop, a luxury fashion platform, Purple Style Labs (PSL), has submitted its draft red herring prospectus (DRHP) for an IPO to the Securities and Exchange Board of India (SEBI).There would be no offer-for-sale element to the issue; it will only involve a new equity raise of up to 660 crore. PSL has the option to make a pre-IPO placement of up to 130 crore, which would correspondingly lower the amount of the new offering.The shares in question will be traded on both the NSE and BSE. Axis Capital and IIFL Capital Services are the book-running lead managers, while Kfin Technologies will act as registrar.As stated in the DRHP, the largest share of proceeds, 363.3 crore, will be pumped into PSL Retail, a wholly owned subsidiary of the company, for lease obligations related to the establishment and functioning of experience centres and back-end offices in India. A further 128 crore will be spent on sales and marketing initiatives and the balance will be used for general corporate activity.Leased properties continue to be one of the biggest cost drivers for the company. Earlier this year, PSL rented the historical Ismail Building in Mumbai, which once housed Zara, at a reported rent of 10 lakh per day.Founder and CEO Abhishek Agarwal have a 27.1% pre-issue stake in the company. Promoter group members Payal Kumari Agarwal and Priyanka Agarwal will own less than 1 percent between them. Other shareholders include Volrado Venture Partners (2.9 percent), Singularity Growth Opportunities Fund (1.93 percent), and Abhinav Agarwal (2.25 percent). TOP STORIESOCTOBER, 20259
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