Reliance Retail to acquire electronics chain in South India?

Electronics Mart India Limited (EMIL), which runs a chain of retail stores in the Telugu states of Andhra Pradesh and Telangana, under the name Bajaj Electronics, is likely to launch its own range of products under its Bajaj brand. The consumer durables retail chain EMIL, which operates about 60 stores in the southern states, might soon be acquired by Reliance Retail of Reliance Industries Limited. As per sources, the retail giant has been in talks with EMIL on the valuation of the chain, and the ask price is known to be Rs 3000 crore.

With speculations rife that Reliance Industries might soon acquire the chain, market pundits predict a rise in the number of Bajaj Electronics stores in Andhra Pradesh and Telangana, in the near future. The investment is certainly expected to bolster EMIL’s presence across India as the chain looks to launch several other new services and its own range of products to expand its reach to other states in the country.

The electronics chain was founded by businessman Pavan Kumar Bajaj. While it was first launched as Bajaj Electronics, the name was later changed to Electronics Mart India Limited.

Reliance Retail Ventures Limited (RRVL) is a subsidiary of Reliance Industries Limited (RIL).-Yo Vizag

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