Private equity heavyweights including Advent International, Bain Capital, TPG, EQT, Carlyle, and KKR are exploring a potential investment in Whirlpool of India Ltd, as the US-based parent company looks to sell a significant minority stake in its high-growth Indian operation.

Whirlpool Corp. plans to divest a 31% stake in its listed Indian subsidiary, aiming to raise between $550m and $600m, according to a report by the Economic Times. Despite the sale, Whirlpool intends to retain a 20% holding, ensuring it remains the largest shareholder post-transaction.

The sale process, which launched earlier this month with Goldman Sachs acting as advisor, has attracted widespread interest from major private equity players, several of whom are also evaluating investment opportunities in other Indian appliance manufacturers such as Haier India.

Whirlpool of India contributes approximately 85% of Whirlpool Corp.’s total revenue in Asia, making the business a strategic asset amid rising consumer demand and expanding middle-class spending across the region.

Sources familiar with the process indicated that the stake could be acquired jointly by multiple funds, reflecting the scale and strategic value of the opportunity.

The transaction highlights the continued appetite among global private equity firms for high-quality consumer assets in India, particularly in sectors poised to benefit from rapid urbanisation and premiumisation trends.

Source: Economic Times