Whirlpool of India's one-day rise, to ₹865.25, the most allowed
Whirlpool rose 20% on news its promoter may sell everything
Whirlpool of India rose 20% today to ₹865.25, the most it can move in a day. The reason: Whirlpool Mauritius wants to sell its entire remaining 39.76% stake.
That sounds like bad news. It was before. In February 2024, Whirlpool sold 24% at ₹1,230, 7.6% below the previous day's closing price, and the stock fell 3.3%. In November 2025, it sold another 11.23% at ₹1,044.97, 13% below the previous close, and the stock fell 11.4%.
So why is the stock up today?
Because this time, there could be one buyer for the whole stake. Earlier, the shares were sold slowly in the market. That left 5.05 crore shares to be sold, or about 221 days of normal trading. CNBC Awaaz reported that potential buyers include large investors and a major multinational consumer durables company. The deal is reportedly in its final stages, with an announcement expected in the coming weeks.
A single buyer could clear the entire overhang at once. And because buying more than 25% triggers India's takeover rules, the buyer would also have to offer to buy another 26% from other shareholders.
One important detail is that Whirlpool Mauritius is the holding company through which the US-based Whirlpool Corporation owns its stake in Whirlpool India.
The irony? When private equity firm Advent International's $1 billion talks to buy Whirlpool fell through last December, the stock fell 3.7%.
Investors do not seem to mind the stake being sold. They care about who buys it.
The price fell on sales, and rose when a buyer showed up
Whirlpool of India's share price on the 6 days its US parent made selling news. It rose only when one buyer looked set to take the whole stake.
CHANGE IN SHARE PRICE ON THE DAY, PER CENT
Hit the 20% daily limit, at ₹865.25
Each bar is the day's close against the day before. December 2025 is the day the Advent talks were called off.
NSE closing prices, against the day before · February 2024 to September 2026
Each sale was at a lower price than the last
Whirlpool of India's share price since October 2023. The brackets below show how much its US parent owned, and it drops on each of the 2 days it sold.
Closing price, ₹ per share
How much of Whirlpool India its US parent owned
75%Oct 2023 to Feb 2024
51%Feb 2024 to Nov 2025
39.8%Nov 2025 to Sep 2026
23 September 2026: up 20% on a report the parent wants to sell the rest
The parent sold twice, each time below the previous close: at ₹1,230 or more a share on 20 February 2024, and ₹1,044.97 on average on 27 November 2025.
NSE closing prices · 3 October 2023 to 23 September 2026
Sources
- SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, last amended 5 December 2025: regulation 3(1) triggers an open offer above 25%, regulation 7(1) sets it at a minimum of 26% of total shares
- NSE quote page for WHIRLPOOL, the closing prices behind every move quoted here
- Business Today, 20 February 2024: Whirlpool Mauritius sells 3.04 crore shares, 24% of equity, at a floor of ₹1,230 against the previous close of ₹1,331, cutting its holding from 75% to 51%
- Business Standard, 19 February 2024: the 24% block deal, with Aditya Birla Sun Life, DSP, ICICI Prudential, Nippon India, SBI Mutual Fund and Societe Generale as buyers for USD 468 million
- Business Standard, 30 January 2025: Whirlpool Corporation says it will cut its India holding to about 20%, expecting USD 550 to 600 million, and expects to remain the largest shareholder
- Business Standard, 29 April 2025: Advent International, Bain Capital, TPG, EQT, Carlyle and KKR approached over a 31% stake that would trigger an open offer, taking a buyer to about 57%
- Upstox, 28 November 2025: Whirlpool Mauritius sells 1.42 crore shares, 11.23% of equity, at an average of ₹1,044.97 for ₹1,489.60 crore, cutting its holding from 51% to 39.77%
- Business Standard, 6 December 2025: Advent's USD 1 billion talks for the Whirlpool India stake collapse over valuation
- India IPO, 23 September 2026: the stock hits its 20% upper circuit on a report that Whirlpool Mauritius will sell its remaining 39.76%, with buyers described only as large investors and an unnamed multinational consumer durables company
- Kotak Neo, 23 September 2026: upper circuit at ₹865.25 against Tuesday's close of ₹721.05, on a CNBC-TV18 report
- Whirlpool of India, earnings call transcript, 6 August 2026: the managing director on the parent's remaining stake, "I know as much as you do on this topic", and a relationship that is "completely at arm's length"