Panasonic in talks to buy controlling stake in focus

Time of India

29-07-2025

Panasonic is in talks to buy a controlling stake in business-to-business (B2B) light fittings maker
Focus Lighting and Fixtures
, in what would be its second acquisition in the electricals segment in India after nearly two decades, said people aware of the matter.
The Sheth family, founding shareholders of Focus Group, owns 55% of the NSE-listed company. The remainder is with the public including individuals and bodies corporate.
Panasonic is looking to acquire the promoters' entire shareholding in Focus Lighting, said the people cited above. A potential deal would trigger a mandatory open offer to the company's public shareholders for at least 26% stake as per Sebi guidelines, they said.
The acquisition would cost Osaka-headquartered Panasonic about ₹526 crore, including the 26% open offer, based on Focus Lighting's current market capitalisation, as per ET's calculations.
According to the people cited above, the negotiations are at an advanced stage, but the due diligence of Focus has brought to light issues which need to be addressed before inking the contract.
A spokesperson for Panasonic's electric works business divisions (erstwhile Anchor) said the speculation "appears to be unfounded.' 'No such information has been shared, and to our knowledge, no such facts exist,' he said.
Focus, which listed on NSE's small and medium enterprises (SME) board in 2017, did not respond to ET's queries.
The company makes light fittings for commercial uses such as retail store facades and interiors. Its clientele includes Reliance Retail and DLF.
The Indian B2B market for lighting products and fixtures is mostly unorganised with the presence of several small and local companies in the segment.
Matsushita Electric
, Panasonic's previous avatar, had acquired household name Anchor Electricals in 2007, getting a foothold in the business-to-customer (B2C) home electricals and light fitting segment.
The electric works business, which includes LED lighting products, switches and wires, cables, smart home products and energy solutions is the largest revenue contributor for Panasonic in India, accounting for over half of
Panasonic Life Solutions
India Pvt Ltd sales, the flagship entity. The rest comes from AC, televisions, industrial and system solutions, lithium-ion battery trading, and smart factory solutions of SMT machines, robotic arms and welding machines.
Panasonic's efforts to acquire control of Focus Group underscores its strategy to enhance its footprint in the B2B segment, its biggest revenue-generator globally.