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Home appliances maker Whirlpool offloads 11.2% stake in India unit for Rs.1,490-Cr

Economic Times  

US-based Whirlpool Corporation, a global manufacturer and marketer of home appliances, through its entity Whirlpool Mauritius, has sold an 11.2% stake in its Indian subsidiary, Whirlpool of India, for INR 1,490 crore via bulk deals. The buyers in this transaction included mutual funds such as Kotak Mahindra, HDFC, and Franklin Templeton, alongside institutional investors Societe Generale, ICICI Prudential Life Insurance, East Bridge Capital Master Fund, and Irage Broking Services.Kolkata-based Whirlpool of India is the Indian listed unit of Whirlpool Corp. This stake sale is part of Whirlpool Corp's strategy to reduce its shareholding in the Indian subsidiary from 51% to approximately 20% by the first half of 2026, with the proceeds from the sale designated for debt repayment.Earlier, Whirlpool had sold a 24.7% stake in the Indian arm in February 2024, generating INR 4,039 crore.