Bajaj Electricals Ltd is planning to acquire a majority stake in Starlite Lighting Ltd, as it holds 32 per cent presently. The company is planning to expand in the solar energy sector in the country.

In 2007, Bajaj had invested Rs 7.5 crore to acquire the stake in the Nasik based company which manufactures CFL. Starlite is planning to expand capacity from 15 million to 40 million units of CFL per year. It also plans to export about 20 per cent of the production.

The chairman and managing director of Bajaj Electricals said, "We propose to raise our holding in Starlite, which manufactures T3 compact fluorescent lamps with technology from GE Hungary for a controlling stake and scale up production for exports and meeting the growing demand in the domestic market."

Bajaj is also looking for more acquisitions in the sector where it finds organizations which suit its strategic vision. The company plans to further invest in the range of Rs. 100-crore.

The company has plans to enter the solar power sector while sourcing the products from a third-party vendor. These products include solar panels for lighting and solar lanterns for villages.