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Whirlpool soars 10% as PE firms eye stake; stock up 33% thus far in April
Share price of Whirlpool of India today: Shares of Whirlpool of India (Whirlpool) surged 10 per cent to ₹1,316.50 on the BSE in Tuesday's intra-day trade in an otherwise range bound market as a large private equity (PE) firm eyed a stake in the household appliances company.
Thus far in the month of April, the stock price of Whirlpool has soared 33 per cent. It bounced back 46 per cent from its 52-week low price of ₹899 touched on March 3, 2025. The stock had hit a 52-week high of ₹2,450 on October 22, 2024. ALSO READ:
What's fuelling the rally?
As per media sources, Whirlpool has been sounded out by large PE firms including Advent International, Bain Capital, TPG, EQT, Carlyle and KKR for its India business.
Whirlpool Corporation, the promoter of the company, plans to sell a 31 per cent stake in its Indian arm, aiming to raise around $550–600 million, i.e., ~₹5,000 crore which shall value Whirlpool India at ~9 per cent higher than its Monday's closing price of ₹1,200.
On January 29, 2025, as part of its fourth quarter earnings release, Whirlpool Corporation announced its intention to sell down its ownership interest in Whirlpool to about 20 per cent this year via market sale by mid-to-late 2025, by way of one or more market sales. It expects to remain the largest shareholder following completion of the anticipated sell-down, the company said in an exchange filing.
Meanwhile, Whirlpool Corporation said it continues to see India as a significant marketplace for growth and an integral part of the company's growth strategy. The company remains committed to expand the business with new product launches and the recently acquired Elica India business.
'Whirlpool India will remain a relevant part of Whirlpool Corporation's portfolio, and we continue to believe Whirlpool India has a strong long-term trajectory for growth. We intend the anticipated sell-down to result in autonomy for Whirlpool India to adjust to the ever-evolving industry conditions, enabling Whirlpool India to focus on accelerated growth and utilise its well-funded business to invest further in the business," Whirlpool Corporation said in a statement.
As on March 31, 2025, Whirlpool Mauritius, the promoter entity, held 51 per cent stake in Whirlpool India, the shareholding pattern data shows. Whirlpool Mauritius is the wholly-owned subsidiary of Whirlpool Corporation.
Reducing its ownership is seen as a strategic move to give the Indian unit more control over its future operations. If the deal goes through, one of the major overhang on the stock shall be behind, according to analysts.
About Whirlpool
Whirlpool India, headquartered in Gurugram, Haryana, is one of the leading manufacturers and marketers of major home appliances in the country. It is primarily engaged in manufacturing and trading of Refrigerators, Washing Machines, Air Conditioners, Microwave Ovens, built-in and Small appliances and caters to both domestic and international markets. The Company also provides services in the area of product development and procurement services to Whirlpool Corporation, USA and other group Companies.
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