Bajaj Electricals plans to raise up to Rs 175 crore through the QIP route to meet its normal capital requirements as well as build up a warchest to fund future acquisitions.
"We find the market environment conducive now to raise funds. Apart from normal requirements, we also want to build up a warchest to fund any acquisition opportunity that may arise in the future," its chairman Shekhar Bajaj told PTI here today.
The company was in talks with a few companies regarding acquisitions but "there is nothing hot at the moment," he said, adding "we are always on the look-out for any opportunity that will fit in with our business needs."
The consumer electrical products manufacturing firm was interested in acquisitions, both domestically and overseas, he said.
On domestic front, the company would leverage its brand and distribution strength, while abroad it would use the overseas company's distribution strength while leveraging its own manufacturing strength, Bajaj said.
Bajaj Electricals was interested in acquiring companies or brands in all its three major segments of lighting, consumer durables and engineering division, he added.
