Whirlpool of India promoter set to sell entire stake, reports CNBC-Awaaz; shares hit 20% upper circuit

According to fresh market updates, Whirlpool of India shares hit 20% upper circuit on September 23 after CNBC-Awaaz noted the firm's promoter Whirlpool Mauritius is set to sell its entire stake.

Promoter Whirlpool Mauritius held a 39.76% stake, revealed June shareholding.

List of potential buyers include large market participants and a major MNC consumer durables firm, the channel noted, adding that the deal is in final stages and announcement is anticipated over the upcoming weeks.

Promoter Whirlpool Mauritius has been selling its stake since 2023. Whirlpool Mauritius sold 11.24% stake last year.

Whirlpool Mauritius' stake has eased from 75% to 39.76% over the last three years.

On September 23, Whirlpool of India shares closed trading 20% elevated at Rs 865.25 apiece.

Whirlpool of India Ltd noted a 29.57% slide in its consolidated net earnings to Rs 102.88 crore in the June quarter of FY27.

The firm had posted a net earnings of Rs 146.08 crore during the April-June quarter of the preceding fiscal, according to a regulatory filing.

That stated, the Indian subsidiary of the US-based Whirlpool Corporation logged a 12.1% climb in topline from operations to Rs 2,726.75 crore in the quarter under review, compared to Rs 2,432.32 crore in the year-ago period.

Whirlpool of India's total expenses increased 16% to Rs 2,656.89 crore in the June quarter. Total income was up 12.43% at Rs 2,795.64 crore in Q1 FY27.