Our Bureau
New Delhi
Bharti Enterprises and private equity giant Warburg Pincus have sealed a landmark $2 billion deal to acquire a combined 49% stake in Haier Appliances India Ltd, one of India’s top consumer durables players, industry sources confirmed Wednesday. The transaction, valued at nearly ₹17,955 crore, marks a strategic pivot for the Chinese-owned firm amid intensifying competition and regulatory scrutiny.
Post-deal, Bharti and Warburg will hold 49%, with Haier Group retaining an equal 49% and the Indian management team owning the remaining 2%—a shift from its prior wholly-owned structure by the Chinese parent. Management control stays with Haier India’s existing leadership, though new investors gain board representation. The move could sidestep Press Note 3 hurdles, which mandate government approval for FDI from China and border-sharing nations, easing ownership complexities.
Haier India, ranking among the top three in air conditioners, refrigerators, TVs, washing machines and kitchen appliances, has posted 25% compounded annual growth over seven years. India ranks as its third-largest market after China and the US, projecting ₹11,000 crore revenue by end-2025. The partnership leverages Haier’s global innovation, Bharti’s local networks and Warburg’s scaling expertise to fuel expansion.
Bharti hailed the alliance as key to Haier’s next growth phase, blending innovations with superior customer service. Warburg emphasized its pan-Asia prowess in consumer scaling. Haier views it as advancing “globalisation through localisation,” with plans for a ₹3,500 crore southern India plant by 2030 targeting domestic and export demand.
The deal outpaced bids from JSW Group and Reliance’s Jio, underscoring Bharti’s telecom synergies in a consumer durables market eyeing ₹2 lakh crore by 2030. Haier’s Pune and Greater Noida facilities will ramp up “Made in India” output amid fierce pricing wars.
