Bharti Enterprises and private equity firm Warburg Pincus on Wednesday agreed to acquire a combined 49 per cent stake in Haier Appliances India Ltd in a transaction valued at around $2 billion, or nearly ₹17,955.5 crore, according to industry sources.
After the transaction, Bharti Enterprises and Warburg Pincus will together hold 49 per cent in Haier India. The Haier group will retain a 49 per cent stake, while the remaining holding will be with Haier India’s management team. Until now, the Indian business was wholly owned by the Haier group. The management control of Haier India will continue to remain with the existing Chinese promoter.
Haier India is currently among the top three consumer durables companies in the country, with a product portfolio spanning categories such as air conditioners, refrigerators, televisions, washing machines and kitchen appliances. Over the past seven years, the company has achieved a compounded annual growth of around 25 per cent in India.
The existing leadership team will continue to run Haier India, although the new investors are expected to have representation on the company’s board. The announcement ends a keenly contested race for a stake in Haier India, which had attracted interest from the Sajjan Jindal-led JSW group and Mukesh Ambani’s Reliance Industries through its digital arm Jio.
According to the statement, the strategic partnership is expected to accelerate Haier’s growth in India by combining the group’s global innovation capabilities, Bharti’s strong market presence and networks and Warburg Pincus’s experience in scaling consumer businesses.
The transaction could also offer relief from Press Note 3 norms, under which foreign direct investments from countries sharing land borders with India — including China — require prior government approval. By bringing in Indian and global investors, the revised ownership structure may ease regulatory complexities.
Haier India is setting up a new manufacturing facility in India and plans to invest ₹3,500 crore in a phased manner by 2030. The proposed plant is likely to be located in southern India to cater to domestic demand and exports.
The India business is owned through Haier Singapore Investment Holding Pte Ltd. India is Haier Group’s third-largest market after China and the US, and the company expects to end 2025 with revenue of around ₹11,000 crore.
Bharti said it is pleased to partner Warburg Pincus and Haier to support the next phase of growth and said that it is confident that Haier India will further consolidate its standing as a leading brand in India, powered by global innovations and enhanced customer services.
Warburg Pincus said the investment reflects its ability to leverage its pan-Asia franchise, deep local insights, global expertise and expansive network to support and accelerate growth for leading companies across the region.
Haier said the partnership marks an important milestone and will accelerate localisation, innovation and long-term growth in the Indian market.
“The strategic partnership fully embodies Haier’s approach of serving globalisation with global capabilities and advancing globalisation through localisation. It brings together the complementary strengths of Bharti, a trusted name and leading business conglomerate in India, and Warburg Pincus, whose strong franchises across China and India have helped scale many leading consumer and technology companies,” Haier said.