Home-grown appliances maker Bajaj Electricals is acquiring the intellectual property rights of Morphy Richards, including its brand rights for India and neighbouring markets, from Glen Electric for ₹146 crore.

The company, led by Sekhar Bajaj, informed bourses in a regulatory filing that its board has approved the deal to buy the brand rights of Morphy Richards for India, Nepal, Bhutan, Bangladesh, the Maldives and Sri Lanka.

Bajaj Electricals, which has held exclusive licensing rights for Morphy Richards products in India for over 20 years, will now gain full ownership of the brand in these regions.

Earlier in March 2022, Bajaj Electricals had extended its trademark agreement with Morphy Richards, part of the Irish international electrical appliances group Glen Dimplex, for a further 15 years with effect from July 1, 2022.

The products from Morphy Richards had recorded strong growth in FY25, supported by broad-based channel growth across e-commerce and modern format retail. “The consumer products business registered a revenue growth of 5.6 per cent on the back of good demand for the Morphy Richards brand and domestic appliances such as air coolers,” Bajaj Electricals had said in the annual report.

During FY25, the Morphy Richards business registered a robust 24 per cent growth with ‘consistent positive performance’ in both offline and online channels.

Bajaj sells a premium range of kitchen appliances and has a presence in the female grooming segment. It has a mix of legacy and new-age brands, including Nex, Morphy Richards and Nirlep, and is targeting consumer preferences across design and price segments. In FY25, Bajaj Electricals’ revenue was at
₹4,828.43 crore.

This transaction will be subject to negotiation and execution of definitive agreements between the parties and the receipt of necessary statutory and regulatory approvals, the filing said.