How it started
History
Bajaj Electricals was incorporated on 14 July 1938 as Radio Lamp Works Limited under the Indian Company Act, 1913 as a Public company limited. On 1 October 1960 it was renamed Bajaj Electricals Limited.
In 1964, Matchwell Electricals (India) Limited, ("Matchwell"), a manufacturer of electric fans became a subsidiary of the Company and subsequently, with effect from 1 July 1984, the business and undertaking of Matchwell was amalgamated with the company.
In the financial year 1993–1994, Bajaj Electricals entered into a joint venture with Black & Decker Corporation, US, for the manufacture and marketing of power tools, household appliances, and related accessories, through a separate company named Black & Decker Bajaj Private Limited, ("Black & Decker Bajaj").
During the financial year 1999-2000, Black & Decker Bajaj became a 100% subsidiary of the Company upon the Company acquiring a further 50% of the shareholding thereof from Black & Decker Corporation, after which Black & Decker Bajaj was renamed Bajaj Ventures Limited.
However, in the financial year 2002–2003, the Company divested 50% of its shareholding in Bajaj Ventures Limited and Bajaj Ventures Limited ceased to be a subsidiary of the company.
From Wikipedia’s article on Bajaj Electricals, shared under CC BY-SA 4.0.2