Haier’s revenue in South Asia grew by more than 30 per cent in the first quarter from a year earlier, with its side-by-side refrigerators taking a 21 per cent market share in India, the company said in an April 29 filing.
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SHAJU JOHN
Sunil Mittal is in advanced talks to acquire a 49 per cent stake in the Indian unit of China’s Haier Smart Home Co, according to people familiar with the matter, as the billionaire looks to tap growing demand for goods such as home appliances in the South Asian country.
The Bharti Airtel founder has teamed up with private equity firm Warburg Pincus to buy the stake in Haier Appliances (India) Pvt. for about $2 billion, the people said, asking not to be identified because the information isn’t public. A deal could be signed in a few weeks, pending approvals, the people said.
Deliberations are ongoing and Haier may decide not to sell, while other buyers could also still emerge, the people said.
Representatives for Mittal and Warburg Pincus declined to comment. Haier didn’t immediately respond to requests for comment.
Economic Times reported in October that Haier was considering selling a stake of between 25 per cent and 49 per cent in the unit. By November, it had attracted preliminary interest from potential investors including Temasek Holdings Pte, GIC Pte and Abu Dhabi sovereign wealth fund Mubadala Investment Co., people familiar with the matter told Bloomberg News at the time.
Haier’s revenue in South Asia grew by more than 30 per cent in the first quarter from a year earlier, with its side-by-side refrigerators taking a 21 per cent market share in India, the company said in an April 29 filing.
Mittal and his family have a net worth of $28 billion, according to the Bloomberg Billionaires Index.
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Published on May 9, 2025
Anurag Dhole is a seasoned journalist and content writer with a passion for delivering timely, accurate, and engaging stories. With over 8 years of experience in digital media, she covers a wide range of topics—from breaking news and politics to business insights and cultural trends. Jane's writing style blends clarity with depth, aiming to inform and inspire readers in a fast-paced media landscape. When she’s not chasing stories, she’s likely reading investigative features or exploring local cafés for her next writing spot.
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
