Sunil Bharti Mittal, founder of Bharti Airtel, is reportedly in advanced talks to acquire a 49% stake worth $2 billion in Haier Smart Home India, Bloomberg reported. The acquisition bid is in partnership with private equity giant Warburg Pincus, and the deal could be signed within weeks—though Haier may still back out or consider other buyers.
Rival Bidders in the Fray
The battle for Haier India’s stake is heating up. Mukesh Ambani’s Reliance Industries, TPG Capital (with the Burman family of Dabur), and GIC (teamed with the Goenka family) are also reportedly interested in acquiring the stake, according to earlier reports by The Economic Times and Moneycontrol.
Haier’s Strong India Growth Push
Haier, which sells refrigerators, air conditioners, washing machines, and TVs, has reported robust performance in India:
- 36% growth in FY24 with ₹8,900 crore in revenue
- Targets ₹11,500 crore in 2025
- Long-term goal: Add ₹2,000-2,500 crore in revenue annually
₹1,000 Cr Investment Plan Unveiled
Haier plans to invest over ₹1,000 crore between 2024–2028 to expand its air conditioner production and build new injection moulding units. With ₹2,400 crore already invested in Pune and Greater Noida, the company is ramping up manufacturing to meet growing demand.
Current AC capacity of 1.5 million units is set to rise to 2.5 million units by 2027, reflecting rising consumer demand and Haier’s aggressive expansion in India.
India’s Growing Appliance Market
With only modest penetration levels compared to global averages, India is a massive growth opportunity for consumer appliance players. Haier currently ranks third in the market after LG and Samsung, and it plans to close the gap fast.
