[MUMBAI] Chinese home appliance maker Haier Smart Home agreed to sell a 49 per cent stake in its India unit to Bharti Enterprises and Warburg Pincus.
Haier will retain a 49 per cent stake and the rest will be owned by its management team in India, the companies said in a joint statement Wednesday (Dec 24). No financial terms were provided.
The agreement will bolster Haier’s “Made in India, for India” strategy by deepening local sourcing, expanding manufacturing capacity and innovation, and accelerating its push into the market, according to the statement.
People familiar with the matter said earlier this year that Bharti’s billionaire founder, Sunil Mittal, was teaming up with Warburg Pincus to acquire the 49 per cent stake for about US$2 billion.
Others had also shown preliminary interest in Haier’s Indian business, including Temasek Holdings, GIC and Mubadala Investment.
Citigroup advised Haier on the stake sale, according to people with the matter, who asked to not be identified because the information is private.
The sale of a stake to an Indian conglomerate could help Haier navigate regulatory hurdles in India, where investment requires government approval.
Haier’s revenue in the wider South Asia region increased by more than 25 per cent from a year earlier in the first nine months of 2025, according to its latest earnings.
Haier has been operating in India for more than two decades, its website shows. The company has industrial parks in Pune and Noida, near Delhi, where it makes products including refrigerators, air conditioners and washing machines. BLOOMBERG
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