Bad news for Mukesh Ambani as he misses the chance to acquire Whirlpool, these companies are top contenders, names are...
That leaves two bidders to acquire the 31% stake in Whirlpool India — EQT and Bain Capital. As per media reports, both EQT and Bain are conducting due diligence on the company. The final deadline to make a bid appears to be in August.
Whirlpool's parent company is in the process of divesting a 31% stake in its Indian unit, which is Whirlpool's biggest market in Asia by revenue. The parent company is planning to retain a 20% stake in Whirlpool India and holds their ownership through Whirlpool Mauritius. Earlier, ET reported on June 20, that Reliance and Havells both showed interest in acquiring the stakeWhirlpool did not respond to requests for comment.
Whirlpool's decision to divest its stake is a part of a wider global restructuring plan started in late 2022, following a reported loss of $1.5 billion. The sale process, which started in April 2025, is under the leadership of Goldman Sachs.
From such a transaction, Whirlpool expects to gain returns of $550 million to $600 million (around Rs 4,684 crore to Rs 5,110 crore). If the deal goes through, it would also trigger a mandatory open offer for an additional 26%, potentially granting the buyer ownership of up to 57% of Whirlpool India.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
25 minutes ago
- Time of India
PM Modi to release Rs 20,500 crore PM-Kisan installment for 9.7 crore farmers on Aug 2
Narendra Modi will release the 20th PM-Kisan installment from Varanasi on August 2. This will benefit 9.7 crore farmers nationwide with Rs 20,500 crore. The direct benefit transfer scheme completes five years. Over Rs 3.69 lakh crore has been transferred through 19 installments. Farmers must complete e-KYC and link Aadhaar to receive the benefit. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Prime Minister Narendra Modi will release the 20th installment of the Pradhan Mantri Kisan Samman Nidhi (PM-Kisan) scheme worth Rs 20,500 crore, from Varanasi, Uttar Pradesh, on August 2, benefiting 9.7 crore farmers across the announcement comes as the government's flagship direct benefit transfer scheme completes over five years since its launch in 2019. So far, Rs 3.69 lakh crore has been transferred directly to farmers' accounts through 19 installments under the programme."The next installment of PM-Kisan will be released on August 2. In the 20th installment, an amount of about Rs 20,500 crore will be transferred to 9.7 crore farmers," the agriculture ministry said in a statement on Prime Minister will launch the installment during a special programme organised in his parliamentary constituency of Varanasi. Agriculture Minister Shivraj Singh Chouhan held a preparatory meeting at Krishi Bhavan in New Delhi to review arrangements for the meeting was attended by Agriculture Secretary Devesh Chaturvedi, Director General of the Indian Council of Agricultural Research Dr M L Jat, and other senior officials of the agriculture the PM-Kisan scheme , eligible farmers receive Rs 6,000 annually in three equal installments of Rs 2,000 each, transferred directly to their bank initiative aims to provide income support to small and marginal farming families holding cultivable receive the 20th installment, farmers must have completed their e-KYC process , ensured their Aadhaar is linked to their bank account, and maintained accurate land records. The government has been emphasising these requirements to prevent leakages and ensure benefits reach genuine scheme has emerged as one of the government's major welfare initiatives, providing crucial financial support to farming families across rural India. PTI
Time of India
25 minutes ago
- Time of India
ACME Solar shares rally 7% in 3 days after Q1 profit soars 9,319%
Tired of too many ads? Remove Ads Profit skyrockets, margins widen Tired of too many ads? Remove Ads Operational milestones and new project wins Refinancing and ratings boost ACME Solar shares have surged nearly 7% over the past three trading sessions after the renewable energy firm posted a 9,319% year-on-year jump in consolidated net profit for the June quarter, buoyed by strong project additions, robust margin expansion and fresh battery storage of the company climbed almost 1% on Wednesday, July 30, to hit an intraday high of Rs 288.95 on the BSE, extending their post-results rally to 6.9% since the results were announced after market hours on Friday, July 25. However, the stock pared gains later in the session to trade at Rs 280.35, down 2.2% on the Solar reported a consolidated profit after tax of Rs 131 crore for Q1 FY26, compared to just Rs 1.4 crore in the year-ago period, marking a staggering 9,319% surge. The company's revenue grew 71.8% year-on-year, driven by capacity additions and a rise in the capacity utilisation factor (CUF), which improved from 27% in Q1 FY25 to 28.5% in the latest came in at Rs 531 crore for the quarter ended June, up 76% from a year earlier, while EBITDA margin expanded to 90.9% from 88.8% in the same period last year. PAT margin stood at 22.4%.The company said it generated 1,636 million units (MUs) of electricity in Q1 FY26, a 107.1% rise from the year-ago period, led by higher CUF and the addition of new the quarter, ACME Solar commissioned 350 MW of projects, including its first wind project, 50 MW at Pokhran in Gujarat, taking the total operational portfolio to 2,890 MW, up 115.7% company also reported progress on its battery storage ambitions, having won a 550 MWh standalone battery energy storage system (BESS) project contracted with NHPC. It has signed power purchase agreements (PPAs) for 250 MW of firm and dispatchable renewable energy (FDRE), 300 MW of solar capacity and 550 MWh of BESS.'3.1+ GWh of BESS [have been] ordered from leading global energy system suppliers including Zhejiang Narada and Trina Energy,' the company said. It added that commitments have been secured for key long lead items like power conversion systems, transmission lines and wind also refinanced Rs 1,072 crore of debt during the June 2025 quarter, reducing the interest cost for a 250 MW operational project in Rajasthan by around 95 basis points. The debt was tied at an 8.5% fixed rate for five years, with Standard Chartered Bank, Bank of America and India Infradebt joining as new company's credit profile also saw upgrades. 'Recently commissioned 4x300 MW SECI ISTS solar projects each received rating of CRISIL AA-/Stable,' while the Acme Aklera 250 MW project was upgraded to ICRA A+/Stable, the company net debt to EBITDA stood at 4.2x as of Q1 FY26, comfortably within its targeted range of company expects the current operational portfolio to yield an annual project EBITDA of Rs 2,000–2,050 crore, resulting in a pre-tax ROCE of 14.5%.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Hans India
25 minutes ago
- Hans India
Digital payments to merchants in India rise 19 pc in June: Report
New Delhi: Digital payments to merchants in India grew nearly 19 per cent year-on-year (YoY) in June to Rs 9,10,000 crore (Rs 9.1 trillion), a new report said on Wednesday. According to data compiled by Equirus Securities, UPI person-to-merchant (P2M) payments remained the biggest driver, rising 22 per cent YoY to Rs 6.8 trillion, while credit card spends increased 15 per cent YoY to Rs 1.8 trillion. Debit card spending, however, declined 14 per cent from previous year to Rs 35,300 crore. UPI-P2M accounted for 74.5 per cent of the total market share in June, while credit cards held 20 per cent. 'Nearly two-thirds of UPI-P2M transactions by value were above Rs 2,000,' according to the report. The number of active cards in force stayed flat at 11.12 crore during the same time period. HDFC Bank led with 2.13 lakh new cards, followed by Yes Bank, Federal Bank, SBI Card, and IDFC First Bank. Year-to-date (YTD), 13.1 lakh cards have been added, as per the report. In terms of market share, HDFC Bank maintained the lead in both cards in force and spending, with 22 per cent and 27.9 per cent shares respectively. E-commerce continued to dominate credit card spending, accounting for 63.1 per cent of total spends in June. The average e-commerce spend per card was Rs 10,400 per month, compared to Rs 6,100 at physical point-of-sale (POS) terminals. Meanwhile, earlier this week, Parliament was informed that over the last six financial years (FY20 to FY25), India has recorded more than 65,000 crore digital transactions, with a total value exceeding Rs 12,000 lakh crore. Minister of State for Finance Pankaj Chaudhary, in a written reply to the Lok Sabha on July 28, said the government has been working closely with the Reserve Bank of India (RBI), the National Payments Corporation of India (NPCI), fintech companies, banks, and state governments to boost the adoption of digital payments, including in tier-2 and tier-3 cities.
