Whirlpool of India Jumps 20% to Upper Circuit on Buzz of Promoter Whirlpool Mauritius Selling Remaining 39.76% Stake

Shares of home appliances manufacturer Whirlpool of India witnessed aggressive buying interest, climbing 20% to hit the upper circuit limit at Rs 865.35 on the BSE on Wednesday. Trading in the counter was subsequently frozen after opening slightly higher at Rs 722.05 against the previous close of Rs 721.15.

The sudden rally brought the company's market capitalisation to approximately Rs 10,978.85 crore. With this move, the counter has rebounded roughly 22.5% from its 52-week low of Rs 706.30 recorded on September 18.

Catalyst Behind the Surge

The sharp upward momentum was triggered by media reports indicating that promoter entity Whirlpool Mauritius is in advanced talks to divest its entire remaining 39.76% stake in Whirlpool of India. The transaction, reportedly approaching finalisation, could see an announcement in the coming weeks.

Potential bidders evaluating the stake are understood to include large financial investors as well as a major multinational consumer durables enterprise.

Gradual Promoter Retreat

The development comes against the backdrop of a multi-year divestment strategy by global parent Whirlpool Corporation:

• Over the past three years, Whirlpool Mauritius reduced its ownership from 75% down to 39.76%.
• In late 2025, the promoter offloaded 14.255 million shares—an 11.23% to 11.24% stake—raising Rs 1,489.6 crore via market transactions.
• That dilution brought the promoter shareholding below the 50% threshold, leading to Whirlpool of India ceasing to be an official subsidiary of Whirlpool Mauritius.

The US-based parent entity had previously noted that proceeds from these transactions were earmarked to deleverage and pare parent-level debt.

Business Overview and Domestic Footprint

Headquartered in Gurugram, Haryana, Whirlpool of India operates three primary manufacturing facilities across the country in Faridabad, Puducherry, and Pune. The company manufactures and sells a broad catalogue of household appliances, including refrigerators, washing machines, air conditioners, and kitchen appliances.

As of June, domestic mutual funds retained an aggregate 31.76% stake in the listed entity, making them the second-largest holding group behind the promoter. Market participants are closely watching the reported transaction, as a complete promoter exit could usher in a strategic change of control or bring a new controlling partner to the domestic consumer durables landscape.

Tags: Whirlpool of India BSE NSE Consumer Durables Whirlpool Mauritius Whirlpool Corporation