Whirlpool to sell shares worth ₹1,000 crore in block deal
after close1 source ↓written by the desknot a recommendation
- of Whirlpool
- 9.5 million shares
- at a floor
- ₹1,000 crore
- per share
- ₹1,030
- to the last
- 14.2% discount
- of the company's
- 7.51%
Whirlpool Corp. plans to sell up to 9.5 million shares of Whirlpool of India Ltd. for nearly ₹1,000 crore at a floor price of ₹1,030 per share, reflecting a 14.2% discount to the last closing price. This sale represents 7.51% of the company's total equity and is part of a strategy to reduce ownership to 20% by 2025.
The move may impact market sentiment as the parent company aims to maintain its status as the largest shareholder post-sale.
Not investment advice. For informational purposes only.