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The company operates three manufacturing facilities in the country, producing air conditioners, refrigerators, washing machines, and other appliances.
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Updated : Jul 07, 2025, 07:36 PM IST
 "BIG move by Sunil Mittal as he submits bid to acquire 49% stake in...; to spend Rs 6000 crore for...")
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Indian billionaire Sunil Mittal and US-based private equity major Warburg Pincus have submitted a bid to acquire a 49 per cent stake in Haier India, a Business Standard report said. The two made the bid at a sharply reduced valuation of Rs 6,000 crore (USD 720 million). Haier is a Chinese electronics maker which had initially sought a USD 2 billion valuation for the stake but received lower bids, the report said. Haier is now weighing whether to proceed with the deal or wait for improved market conditions.
Haier India operates three manufacturing facilities in the country, producing air conditioners, refrigerators, washing machines, and other appliances. The group previously held early-stage talks with Mukesh Ambani's Reliance Industries, reports suggest.
Sunil Mittal's net worth
Sunil Mittal is one of the richest businessmen in India. According to Forbes, he has a real-time net worth of USD 15.1 billion, as of July 7. Mittal runs the second-largest telecom company in India, Bharti Airtel. The telecom firm competes with Reliance, Jio and Vi. The telecom tycoon Mittal continues to expand his business in other sectors. Bharti Airtel has a market cap of Rs 12.18 lakh crore, as of July 7. The share price of the company closed at Rs 2,029.50 on Monday.
