Whirlpool of India Ltd on Thursday said that its holding company Whirlpool Corporation has announced its intention to sell down its ownership interest in Whirlpool of India Ltd to approximately 20 per cent by mid to late 2025. Currently, the company holds 51 per cent ownership in Whirlpool India.
In a regulatory filing, Whirlpool of India said, “Today, as part of its fourth quarter earnings release, Whirlpool Corporation announced its intention to sell down its ownership interest in Whirlpool of India Ltd (Whirlpool India) to approximately 20 per cent by mid to late 2025, by way of one or more market sales (“Anticipated Sell-Down”). Whirlpool Corporation, which currently holds a 51 per cent ownership interest in Whirlpool India, expects to remain the largest shareholder following completion of the Anticipated Sell-Down.”
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It said that the stake sale is intended to provide increased autonomy to Whirlpool India to adjust to ever-evolving industry conditions, enabling Whirlpool India to focus on accelerated growth and utilizing its well-funded business to invest further in the 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,” the company said while adding that the company believes these actions will deliver value to Whirlpool India’s shareholders.
Earlier in November, Whirlpool of India had reported a profit increase of 40.13 per cent during the second quarter of FY25 at Rs 53.53 crore, helped by volume growth and cost productivity actions. It had posted revenue from operations at Rs 1,713 crore, up 12.58 per cent YoY
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