Sunil Mittal In Advanced Talks To Acquire 49% Stake In Haier India

Sunil Bharti Mittal, founder of Bharti Airtel, is in advanced discussions to acquire a 49% stake valued at approximately $2 billion in Haier Appliances India Pvt Ltd, the Indian unit of Chinese home appliances company Haier. Mittal is reportedly collaborating with private equity firm Warburg Pincus on the transaction, which could be finalized within weeks, although Haier may decide not to sell and other buyers might also express interest. Haier India manufactures a range of home appliances including air conditioners, refrigerators, washing machines, and smart home products, and has seen strong sales growth, surpassing $1 billion in revenue in 2024 with plans to double sales in the coming years. The company is also investing in local manufacturing to benefit from India's production linked incentive scheme. Despite ongoing talks, representatives from all parties have declined to comment publicly. Haier's Indian unit has attracted interest from several global investors, highlighting the expanding demand and competitive landscape for home appliances in India.