Bharti Group Chairman Sunil Mittal is reportedly in advanced negotiations to acquire a 49% stake in the Indian arm of China’s Haier Smart Home Co., as the billionaire seeks to expand his presence in India’s fast-growing consumer durables market, reported Bloomberg News.
According to a report by Bloomberg News, Mittal has teamed up with private equity firm Warburg Pincus for the potential deal, which is estimated to be valued at approximately $2 billion. The discussions are said to be at an advanced stage, and a formal agreement could be reached in the coming weeks, subject to regulatory approvals, the report said, citing people familiar with the matter who requested anonymity due to the confidential nature of the talks.
The report further noted that while discussions are ongoing, Haier may still opt against the sale. It also remains possible that additional investors could express interest before any final decision is made. Both Mittal and Warburg Pincus declined to comment on the potential transaction. Haier has yet to issue an official response.
Haier’s India unit, Haier Appliances (India) Pvt Ltd, has emerged as a significant player in the South Asian market. According to a company filing dated April 29, the firm’s revenue in the South Asia region grew over 30% year-on-year in the first quarter of 2025. Its side-by-side refrigerators held a 21% share of the Indian market during the same period.
An earlier report by The Economic Times in October 2024 had indicated that Haier was exploring a sale of 25% to 49% of its Indian operations. By November, Bloomberg News reported that the opportunity had attracted interest from global investors, including Temasek Holdings Pte, GIC Pte, and Mubadala Investment Co. Sunil Mittal, best known as the founder and chairman of Bharti Airtel Ltd., is among India’s most prominent industrialists. As per the Bloomberg Billionaires Index, Mittal and his family have an estimated net worth of $28 billion. If the deal proceeds, it would represent a major strategic move into India’s consumer appliances segment, aligning with rising domestic demand and consumption trends in the country.