Block deal: Whirlpool was planning to sell its stake at Rs 1,230 per share, a 7.6 per cent discount to Monday's closing price, with the transaction is expected to be finalised by Wednesday, Reuters suggested.
Following the sale, the parent firms holding has come down to 51% from 75%. The American consumer durables maker expects to use the proceeds from the stake sale to reduce debt.
On November 30, 2023, Whirpool Corp said it would sell up to 24 percent of its ownership interest in Whirlpool of India Ltd in an effort to reduce debt levels