Bharti and Warburg Pincus announce investment in Haier India, to collectively own 49% stake

Bharti Enterprises and Warburg Pincus announce investment in Haier India

Bharti Enterprises, led by Sunil Mittal, and PE firm Warburg Pincus on December 24 announced a strategic investment in Haier India, a subsidiary of China's Haier Group.

Following the completion of the transaction, Bharti and Warburg Pincus will collectively own a 49% stake in Haier India. Haier Group will retain a 49% stake in the Indian entity, while employees will own the remaining 2%, reported Reuters.

The companies did not disclose the deal value or valuation. However, Economic Times, citing industry executives, reported earlier in the day that Haier India was likely worth Rs 15,000 crore.

Haier India manufactures air conditioners, refrigerators, televisions, washing machines, and kitchen appliances across its two facilities in Pune and Greater Noida.

"This strategic collaboration will accelerate Haier’s growth and expansion in India by bringing together and leveraging the company’s global excellence in innovation, Bharti’s esteemed standing and resultant networks, and Warburg Pincus’ strong track record of scaling brands into industry leaders," the firms said in a joint statement.

The new capital infusion will enhance Haier India’s competitiveness across the entire value chain, the firms said.

"The consumer appliance market in India is witnessing strong growth, driven by rising disposable incomes, changing lifestyles, and increasing penetration of consumer appliances. Haier India is currently among the top three consumer durables companies in the country, with a strong product portfolio spanning categories such as air conditioners, refrigerators, televisions, washing machines, and kitchen appliances. Over the past seven years, the company has achieved a CAGR of approximately 25% in India—one of the highest in the industry—supported by robust performance across product segments and geographies. By combining global innovation with local insights and execution, the partnership will strengthen Haier India’s leadership position in the rapidly growing Indian consumer durables segment," the firms added.

Bharti said it looks forward to playing a significant role in the evolving consumer durables industry and leveraging the collective strengths of all parties to meet the needs of Indian consumers. Bharti said it is confident that Haier India will further consolidate its standing as a leading brand in India, powered by global innovations, enhanced customer services, and best in-class experience.

Warburg Pincus noted that it is excited to join hands once again with Bharti and to partner with Haier in India as it expands its footprint in the fast-growing consumer durables market. This investment reflects Warburg Pincus’s ability to leverage its pan-Asia franchise, deep local insights, global expertise, and its expansive network to support and accelerate growth for leading companies across the region, the private equity firm said.

Haier highlighted that the collaboration with Bharti Enterprises and Warburg Pincus marks an important milestone in Haier India’s development journey. The strategic partnership fully embodies Haier’s approach of “serving globalization with global capabilities and advancing globalisation through localisation.”

Haier Appliances India, a wholly owned unit of Qingdao-headquartered Haier Group, entered the country in 2004 and now has a dealer network spanning 6,500 outlets. Its portfolio includes refrigerators, air conditioners, washing machines, LED panels, water heaters, and microwave ovens.

Haier’s revenue in South Asia grew by more than 30% in the first quarter from a year earlier, with its side-by-side refrigerators taking a 21% market share in India, the company said in an April 29 filing. Company president NS Satish had earlier told PTI that Haier is targeting annual revenue additions of Rs 2,000–2,500 crore, adding that India remains a big opportunity given the GDP growth and relatively low penetration compared with global peers.

Mittal and his family have a net worth of $28 billion, according to the Bloomberg Billionaires Index.