Whirlpool Mauritius Divests Major Stake in Whirlpool India

Whirlpool Mauritius has sold an 11.23% stake in Whirlpool of India Ltd, generating Rs 1,489 crore. This move aligns with Whirlpool Corporation's plan to reduce its stake in its Indian entity to 20% by 2025. The transaction included the sale of over 1.42 crore shares.

In a significant financial maneuver, Whirlpool Mauritius, a key stakeholder in Whirlpool of India Ltd, disinvested an 11.23% stake, translating to 1.42 crore shares. This transaction fetched Rs 1,489 crore, aligning with their parent company, Whirlpool Corporation's strategic approach to minimize its holding in India.

This divestment is part of a broader plan laid out by Whirlpool Corporation earlier this year. The American home appliances giant aims to bring down its ownership in the Indian subsidiary to roughly 20% by the year 2025, as part of its financial strategy.

The sale attracted several buyers, including major entities like HDFC Mutual Fund, Kotak Mahindra MF, and Franklin Templeton MF. The shares sold at an average price of Rs 1,044.97, causing Whirlpool of India's share price to drop by 11.32% on the BSE.

(With inputs from agencies.)