Post the report, the stock surged by 20%, following which the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) sought clarification from the company.
It clarified on Thursday that the news report relates to the “promoter” company and not to the Whirlpool of India. It said Whirlpool Corporation’s intent to reduce its shareholding in the India company has been in the public domain since January 30, 2025.
However, the latter has not been a party to any negotiations that Whirlpool Corporation may have been having with potential buyers, it clarified.
Whirlpool of India said that subsequent to this, it took steps to amend various intercompany arrangements in its interest, which were disclosed to the exchanges on October 16, 2025.
Ever since, it said it has been receiving information from Whirlpool Corporation regarding its disclosed intent to reduce its shareholding in the company, including the sale of approximately 1% of its shareholding in 2025, which was disclosed to the exchanges on November 28.
Whirlpool of India stated that it is not party to any such discussions or negotiations of the promoter company with potential buyer/s for any further stake sale. Hence, it is not aware if such further discussions related to Whirlpool Corporation’s entire shareholding or a part thereof, nor of the terms, price, or stage at which the negotiations may be.
As a result, it did not intimate the stock exchanges so as to not create any unwarranted expectations or false market, it said.
It said the most recent communication of the promoter firm, dated September 22, 2026, addressed to the board of directors of Whirlpool of India after office hours at 7.17 pm IST, informing it for the continued intent of Whirlpool Mauritius to sell its shares in the company to a third party as part of a control transaction, and that such proposed sale is currently being explored with more than one potential counterparty.
Whirlpool of India reiterated that it is not party to any such proposed transaction or negotiations regarding these discussions.
Whirlpool of India said it is unable to comment on what may be driving the movement in the price of its scrip. However, it added that it does not believe that there is any material impact of the Wednesday news report. It added that it is not aware of any regulatory/legal proceedings with regards to initiation/outcome of the proceedings.
On Wednesday, CNBC Awaaz reported, citing sources that Whirlpool of India could be headed for a major change in its ownership structure, with the promoter Whirlpool Mauritius set to sell its remaining stake in the firm.
As of June, Whirlpool Mauritius held a 39.76% stake in Whirlpool of India. Sources told CNCB Awaaz that the deal was in its final stages and an announcement would be expected in the upcoming weeks.
Shares of Whirlpool. of India surged 20% post the news report on Wednesday. However, it was trading with losses on Thursday, down 4.4% at 12.17 pm at ₹827.05 apiece. The stock has risen 7.5% in the past month but is down 7.1% this year, so far.
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