{"id":17918,"date":"2024-02-20T15:23:46","date_gmt":"2024-02-20T09:53:46","guid":{"rendered":"https:\/\/univest.in\/blogs\/?p=17918"},"modified":"2024-02-20T15:23:46","modified_gmt":"2024-02-20T09:53:46","slug":"whirlpool-of-india-sells-stake","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/whirlpool-of-india-sells-stake\/","title":{"rendered":"Whirlpool of India Sells 24.7% Stake for Rs 4,039 Crore in Block Deal"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/whirlpool-of-india-sells-stake\/#On_Tuesday_Whirlpool_of_India_a_well-known_company_that_sells_electronic_goods_had_an_important_event_happen_in_the_Indian_market\" title=\"On Tuesday, Whirlpool of India, a well-known company that sells electronic goods, had an important event happen in the Indian market.\">On Tuesday, Whirlpool of India, a well-known company that sells electronic goods, had an important event happen in the Indian market.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/whirlpool-of-india-sells-stake\/#The_Impact_of_the_deal_on_the_company\" title=\"The Impact of the deal on the company\">The Impact of the deal on the company<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/whirlpool-of-india-sells-stake\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h3><span class=\"ez-toc-section\" id=\"On_Tuesday_Whirlpool_of_India_a_well-known_company_that_sells_electronic_goods_had_an_important_event_happen_in_the_Indian_market\"><\/span><strong><em>On Tuesday, Whirlpool of India<\/em><\/strong>, a well-known company that sells electronic goods, had an important event happen in the Indian market.<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>A block deal was made where 24.7% of shares were sold for Rs 4,039 crore ($451 million). Whirlpool Mauritius Ltd, the company that owns the Indian unit, sold 3.2 crore shares in order to lower its debt levels.<\/p>\n<p>The sale of the stake took place at the floor price of Rs 1,230 per share, which represents a 7.6% discount to the previous closing price of the company&#8217;s shares.<\/p>\n<p>It is worth noting that the parent company of <strong><a href=\"https:\/\/univest.in\/stocks\/whirlpool\/whirlpool-of-india-ltd-share-price-today\">Whirlpool of India<\/a><\/strong>, Whirlpool Corporation, has committed to retaining a majority stake post-sale and views the Indian market as crucial for growth.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"The_Impact_of_the_deal_on_the_company\"><\/span><strong>The Impact of the deal on the company<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The proceeds from the sale will be primarily used for debt repayment, which will help improve the balance sheet flexibility of Whirlpool of India. This move is expected to improve the company&#8217;s long-term financial health significantly.<\/p>\n<p>However, the company&#8217;s stock price dropped 2.8% in early trade, reflecting market concerns over the impact of the share sale.<\/p>\n<p>It&#8217;s worth noting that this move follows Whirlpool Corp.&#8217;s announcement in November 2023 to sell up to 24% of its stake in the Indian unit to manage debt.<\/p>\n<p><em>The company&#8217;s share price has declined over 16% in the past six months, in contrast to the <a href=\"https:\/\/en.wikipedia.org\/wiki\/NIFTY_50\" rel=\"nofollow noopener\" target=\"_blank\">Nifty 50<\/a> 14% gain during the same period.<\/em><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Overall, this block deal signifies Whirlpool&#8217;s strategic shift towards debt reduction while maintaining its commitment to the Indian market. The parent company&#8217;s decision to retain a majority stake indicates its continued confidence in the <strong><a href=\"https:\/\/univest.in\/blogs\/equity-markets-kick-off-with-cautious-optimism\/\">Indian market<\/a><\/strong> and its long-term growth potential.<\/p>\n<p>The sale of the stake is expected to help the company improve its financial position and pursue growth opportunities in the future.<\/p>\n<p><em>This development is significant for the Indian market as well, as it indicates the potential for more such deals in the future.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On Tuesday, Whirlpool of India, a well-known company that sells electronic goods, had an important event happen in the Indian market. A block deal was made where 24.7% of shares were sold for Rs 4,039 crore ($451 million). Whirlpool Mauritius Ltd, the company that owns the Indian unit, sold 3.2 crore shares in order to<\/p>\n","protected":false},"author":15,"featured_media":26910,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[842],"tags":[],"class_list":["post-17918","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"metadata":{"_last_editor_used_jetpack":["classic-editor"],"_edit_lock":["1708422698:13"],"_edit_last":["13"],"_thumbnail_id":["26910"],"rank_math_internal_links_processed":["1"],"rank_math_primary_category":["842"],"post_views_count":["755"],"rank_math_seo_score":["77"],"rank_math_focus_keyword":["Whirlpool"],"rank_math_title":["Whirlpool of India Sells 24.7% Stake for Rs 4,039 Crore"],"rank_math_description":[" Whirlpool Corporation sells 24.7% stake in Whirlpool of India to reduce debt and refocus on core strengths"],"rank_math_analytic_object_id":["570"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2024\/10\/18181926\/portfolio-2-2.jpg","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/17918","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=17918"}],"version-history":[{"count":3,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/17918\/revisions"}],"predecessor-version":[{"id":17935,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/17918\/revisions\/17935"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/26910"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=17918"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=17918"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=17918"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}