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Bajaj Electricals incorporates new subsidiary Bajel Projects; Stock dips 1%

The object of the acquisition is to carry out the Power Transmission and Power Distribution Business.

January 20, 2022 9:25 IST | India Infoline News Service
Bajaj Electricals
Bajaj Electricals Limited (BEL) has incorporated a wholly-owned subsidiary (WOS) company in the name of ‘Bajel Projects Limited’ on January 19, 2022, to carry out the Power Transmission and Power Distribution Business.

The authorized capital of the WOS is Rs1cr and subscribed capital Rs50 lakh only.

WOS could act as a ready vehicle to enable the proposed Restructuring, authorised by the company’s board in a meeting on December 9, 2021, the company said in a filing.

At around 9.27 AM, Bajaj Electricals Ltd was trading at Rs1,225.90 per share down by Rs14.75 or 1.19% from its previous closing of Rs1,240.65 per share on the BSE.

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