Whirlpool of India Shares Sold on BSE: Rs 4,090 Crore Trade
Feb 20, 2024 13:49
Over 3.13 crore shares of Whirlpool of India worth Rs 4,090 crore were sold on BSE in afternoon trade. The stock price dropped 2.08% following the sale.
New Delhi, Feb 20 (PTI) More than 3.13 crore shares worth Rs 4,089.45 crore of home appliance maker Whirlpool of India sold on the BSE in the afternoon trade.
The company's shares were trading at Rs 1,303.10 apiece, down 2.08 per cent from the previous close.
The stock had touched its 52-week high of Rs 1,733 on December 12, 2023.
The promoter company, Whirlpool Mauritius, is likely to be the seller, divesting its stake in Whirlpool in its India subsidiary.
As on December 31, 2023, Whirlpool Mauritius, a step-down arm of American home appliances major Whirlpool Corporation, held a 75 per cent stake in Whirlpool of India. The remaining 25 per cent is with public shareholding.
On November 30 last year, Whirlpool Corporation had informed in a regulatory filing that it was planning to sell up to 24 per cent stake in Whirlpool of India in 2024 to raise funds and reduce its debt. The filing was also shared on BSE by Whirlpool of India.
Gurugram-based Whirlpool of India, one of the leading home appliances firm, operates three manufacturing facilities at Faridabad, Puducherry and Pune.
In FY23, Whirlpool of India's total revenue stood at Rs 6,210.25 crore.
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