Sunil Mittal and Warburg Pincus in Discussions For Stake in Haier India

A consortium led by Bharti Enterprises chairman Sunil Mittal and private equity firm Warburg Pincus is in exclusive negotiations to acquire a 49% stake in Haier Appliances India Pvt Ltd, according to a report by Moneycontrol. The Chinese parent, Haier Smart Home Co, is expected to retain a 49% stake, with the remaining 2% held by employees. Both sides are likely to share joint control of the company, including board representation.

Stake and Deal Structure

As per Moneycontrol, earlier rounds of talks saw complications around the deal structure, which have now been resolved. The current plan includes equal ownership between Haier China and the Mittal-Warburg consortium. The transaction is to be formally announced later this month. Investment bank Citi is advising on the sell-side.

Haier India Background

Haier India, a fully owned subsidiary of Haier Group, is reportedly valued at around $2 billion. The company competes in the Indian consumer appliance space with brands like Samsung, LG, and Whirlpool.

The Indian unit is being prepared for a public listing within the next 2 years, as per a Moneycontrol report. The proposed investment is expected to precede the IPO.

Read more: Reliance Consumer Joins India’s Top 10 FMCG Players!

Haier’s Operations and Financials

Haier began operations in India in January 2004. The company offers a range of products, including refrigerators, washing machines, air conditioners, TVs, water heaters, and commercial appliances. It currently operates through a network of more than 6,500 retail outlets.

According to a PTI report, in 2024, Haier India reported a revenue of ₹8,900 crore, reflecting a 36% increase over the previous year. For 2025, the company is targeting revenue of ₹11,500 crore.

Conclusion

Haier India, holding the 3rd position in the Indian home appliance market, trails only LG and Samsung. This indicates Haier's dedication to increasing its presence in India, relying on its solid brand image and loyal customer base.

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