Sunil Mittal has reportedly partnered with private equity major Warburg Pincus to jointly invest about USD 2 billion for the stake in Haier Appliances (India)
Looking to tap the increasing demand for goods like home appliance in the country, Bharti Airtel founder Sunil Mittal is in advanced negotiations to acquire a 49 per cent stake in the Indian operations of China’s Haier Smart Home Co., Bloomberg reported, citing people familiar with the matter.
Mittal has reportedly partnered with private equity major Warburg Pincus to jointly invest about USD 2 billion for the stake in Haier Appliances (India). The deal could be finalised in the coming weeks, subject to necessary approvals, the sources added.
The talks are still underway, and the outcome is not guaranteed, as Haier may reconsider the sale or other potential buyers may come forward.
Back in October 2024, reports had indicated Haier’s intent to offload a 25 per cent to 49 per cent stake in its Indian arm. By November, the company had drawn preliminary interest from global investors including Singapore’s Temasek Holdings, GIC, and Abu Dhabi’s Mubadala Investment Co.
Haier’s Indian operations have shown strong growth, with revenue in South Asia rising over 30 per cent year-on-year in the first quarter of 2025. The company’s side-by-side refrigerators held a 21 per cent market share in India, as per a regulatory filing on 29 April.
Mittal, who is among India’s richest, has a net worth of USD 28 billion, according to the Bloomberg Billionaires Index.
