Whirlpool of India stock crashes 11% after 11.8% stake sold in block deal; promoters likely offload equity

Whirlpool of India Ltd

Whirlpool of India saw a large block trade on Thursday morning, with around 1.5 crore shares -- representing roughly 11.8 percent of the company’s equity -- changing hands on the exchanges. The company's stock crashed as much as 11.5 percent on the NSE to end at Rs 1,062.3 in the morning trade.

The identity of the buyers and sellers is yet to be disclosed, but market reports indicated that the company’s promoters are the likely sellers. Details on pricing and final allocation for the 1.5-crore-share trade are expected once the exchanges release the block deal data.

The transaction comes after CNBC-TV18 reported earlier that the promoter group was planning to sell up to 95 lakh shares, or 7.5 percent stake in Whirlpool of India, via a block deal worth about Rs 965 crore at a floor price of Rs 1,030 per share. Sources later indicated that the block size had been increased to around 11 percent. Exchange confirmation is awaited.

• Also read | Nifty hits fresh all-time high after 14 months, Sensex rises on positive global sentiment

Whirlpool of India is majority-owned by Whirlpool Mauritius, a subsidiary of US-based Whirlpool Corporation. The promoter group has steadily reduced its stake in the Indian unit over the past two years as part of a wider capital-reallocation exercise by the parent. Promoter shareholding, which stood at around 75 percent in late 2023, has declined to about 51 percent following a series of large on-market and block transactions undertaken in 2024 and 2025.

One of the largest divestments occurred in February 2024, when the promoter sold roughly 30 million shares, raising around USD 468 million. Those sales helped the parent trim debt and reshuffle its global asset portfolio. Market data shows that promoter shares in Whirlpool of India are unpledged.

With the gradual reduction in promoter ownership, institutional investors now hold a sizeable portion of the free float, including foreign portfolio investors, mutual funds and domestic institutions.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.