Whirlpool Of India Shares Slide Over 11%, Block Deal Of 1.5 Crore Shares Sparks Sharp Market Reaction

Mumbai: Whirlpool of India saw its shares drop sharply by 11 percent on Thursday, November 27, after a massive 1.5 crore shares—equal to 11.8 percent of the company’s equity—were traded through a block deal. The stock fell to around Rs 1,076.8 in early trade. This decline follows a month in which the stock has already lost 22.6 percent, and a year where the total fall now stands at over 40 percent.

Promoter Stake Strategy Fuels Uncertainty

The block deal comes at a time when Whirlpool Mauritius, the promoter entity, has been consistently reducing its stake. At the end of the September quarter, the promoter held 51 percent, after selling 24 percent in a large Rs 5,000-crore block deal in February 2024. Earlier this year, the parent company announced a long-term plan to cut its holding from 51 percent to about 20 percent.

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In its latest corporate update, the parent confirmed that this stake reduction will likely be completed by the first half of 2026. Investors worry that repeated stake sales indicate a long-term shift in the promoter’s commitment, adding pressure to the stock.

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