America’s Home Appliance Company Whirlpool corporation (Whirlpool Corporation) Your Indian Subsidiary Whirlpool of india limited I am going to reduce the stake once again. The company has said that its intention is to reduce the stake in the Whirlpool of India from the current 51 percent to 20 percent from the mid -2025 to the end. Whirlpool Corporation made the announcement with the release of its quarterly results. After the update surfaced, the stock of Whirlpool of India declined by 20 percent on BSE on January 30 and a lower circuit at Rs 1262.15.
The company’s market cap has come down to Rs 16000 crore. Earlier, whirlpool sold 24.7 percent stake in his Indian business in February 2024. The deal was worth Rs 4,039 crore. The stocks were sold at an average price of Rs 1,280 per share.
At that time, Mark Betzer, CEO of Whirlpool Corp, cited the high valuation of the Whirlpool of India behind the decision of the company to reduce some stake in the Indian subsidiary. He also said that he is confident of long -term business possibilities in India.
After the new sales minority shareholder will become Whirlpool Corporation
If more stake is sold by Whirlpool, then it will become a minority shareholder in the Whirlpool of India, as its share will be reduced by 26%. The statement said, “Even after the completion of this potential sales, the Whirlpool Corporation expects to remain the largest shareholder in the Whirlpool of India.”
The statement by Whirlpool Corporate said, “Whirlpool India will remain a reliable part of the portfolio of Whirlpool Corporation, and we believe that whirlpool India has a strong long long -term transctory for growth. Want to give freedom to adjust with the constantly changing Indian conditions. So that whirlpool can focus on India growth and use its well -funded business to invest further in business.
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Share climbed 18 percent in a year
According to BSE data, the Whirlpool of India share has risen 18 percent in a year. It has broken 15 percent so far in January. The stock touched a 52 -week high level of Rs 2,450 on 22 October 2024.