Whirlpool of India clarifies on promoter stake sale report; stock slips
"The Company clarifies that the said news article relates to its promoter company and not to Whirlpool of India. The intent of Whirlpool Corporation to reduce its shareholding in the Company has been in the public domain since January 30, 2025," Whirlpool of India stated.
- Sep 24, 2026,
- Updated Sep 24, 2026 5:54 PM IST
Whirlpool of India Ltd on Thursday clarified on an exchange query regarding a report that its promoter was looking to sell its entire stake in the company, saying the report pertains to Whirlpool Corporation and not the company.
"The Company clarifies that the said news article relates to its promoter company and not to Whirlpool of India. The intent of Whirlpool Corporation to reduce its shareholding in the Company has been in the public domain since January 30, 2025. However, the Company has not been a party to any negotiations that Whirlpool Corporation may have been having with potential buyers," it stated.
"Subsequent to this, the Company took steps to amend various intercompany arrangements in the interest of the Company, which was disclosed to the stock exchanges on October 16, 2025. Since then, the Company has been receiving information from Whirlpool Corporation regarding its disclosed intent to reduce its shareholding in the Company, including the sale of approximately 11% of its shareholding in 2025 (as disclosed to the stock exchanges on November 28, 2025). Please note that, the Company is not a party to any such discussions or negotiations of Whirlpool Corporation with potential buyer(s) for any further stake sale by Whirlpool Corporation," the company added.
"Accordingly, the Company is not aware whether such further discussions relate to the entire shareholding or a part thereof, nor of the terms, price, or stage at which the negotiations may be," Whirlpool of India also said.
"As a result of this uncertainty, the Company has, bona fide, not intimated the stock exchanges so as not to create any unwarranted expectations or false market. In this regard, the most recent communication dated September 22, 2026, from Whirlpool Corporation (on behalf of Whirlpool Mauritius, the promoter of the Company), addressed to the Board of Directors of the Company after office hours at 7:17 PM IST, informed the Company of the continued intent of Whirlpool Mauritius to sell its shares in the Company to a third party as part of a control transaction, and that such proposed sale is currently being explored with more than one potential counterparty," it stated.
"The Company reiterates that it is not a party to any such proposed transaction or any negotiations/events regarding decisions of its promoter company on their shareholding in the Company," Whirlpool of India further stated.
Meanwhile, Whirlpool of India shares settled 1.13 per cent lower at Rs 855.55 on BSE.
Whirlpool of India Ltd on Thursday clarified on an exchange query regarding a report that its promoter was looking to sell its entire stake in the company, saying the report pertains to Whirlpool Corporation and not the company.
"The Company clarifies that the said news article relates to its promoter company and not to Whirlpool of India. The intent of Whirlpool Corporation to reduce its shareholding in the Company has been in the public domain since January 30, 2025. However, the Company has not been a party to any negotiations that Whirlpool Corporation may have been having with potential buyers," it stated.
"Subsequent to this, the Company took steps to amend various intercompany arrangements in the interest of the Company, which was disclosed to the stock exchanges on October 16, 2025. Since then, the Company has been receiving information from Whirlpool Corporation regarding its disclosed intent to reduce its shareholding in the Company, including the sale of approximately 11% of its shareholding in 2025 (as disclosed to the stock exchanges on November 28, 2025). Please note that, the Company is not a party to any such discussions or negotiations of Whirlpool Corporation with potential buyer(s) for any further stake sale by Whirlpool Corporation," the company added.
"Accordingly, the Company is not aware whether such further discussions relate to the entire shareholding or a part thereof, nor of the terms, price, or stage at which the negotiations may be," Whirlpool of India also said.
"As a result of this uncertainty, the Company has, bona fide, not intimated the stock exchanges so as not to create any unwarranted expectations or false market. In this regard, the most recent communication dated September 22, 2026, from Whirlpool Corporation (on behalf of Whirlpool Mauritius, the promoter of the Company), addressed to the Board of Directors of the Company after office hours at 7:17 PM IST, informed the Company of the continued intent of Whirlpool Mauritius to sell its shares in the Company to a third party as part of a control transaction, and that such proposed sale is currently being explored with more than one potential counterparty," it stated.
"The Company reiterates that it is not a party to any such proposed transaction or any negotiations/events regarding decisions of its promoter company on their shareholding in the Company," Whirlpool of India further stated.
Meanwhile, Whirlpool of India shares settled 1.13 per cent lower at Rs 855.55 on BSE.