Haier has agreed to sell its 49% stake in Haier Appliances India to Bharti Enterprises and Warburg Pincus.
The deal has received Chinese government approval.
Earlier negotiations had stalled over valuation, with Haier previously pegging the business at $2 billion.
After a year of negotiations, Chinese electronics maker Haier has agreed to sell its 49% stake in its Indian unit, Haier Appliances India, to Bharti Enterprises and Warburg Pincus.
Bharti Enterprises, headed by Sunil Mittal, and private equity firm Warburg Pincus said they will make a strategic investment in Haier India, part of China’s Haier Group.
1 December 2025
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Once the transaction is completed, Bharti and Warburg Pincus will together hold 49% in the Indian unit. Haier Group will continue to own another 49%, with the remaining 2% held by employees.
The companies have not revealed the size or valuation of the deal.
The deal has received approval from the Chinese government, the Economic Times (ET) reported earlier. The transaction is expected to value Haier Appliances India at around ₹15,000 crore, or about $1.5 billion, the report claimed
It was earlier reported that talks between Bharti and Haier had broken down over valuation, with the Chinese side valuing the business at $2 billion.
The shareholding between Bharti Enterprises and Warburg Pincus is expected to be evenly split.
The companies reportedly plan to seek the required regulatory clearances immediately, with the transaction likely to be completed within three to four months.
As part of the agreement, Haier India’s top leadership will be localised. Satish NS, currently president of Haier India, is expected to take over as managing director, while Decheng Huang, the Chinese expatriate who presently holds the role, will return to Beijing. Haier’s Indian business is currently held through Haier Singapore Investment Holding.
"This strategic collaboration will accelerate Haier’s growth and expansion in India by bringing together and leveraging the company’s global excellence in innovation, Bharti’s esteemed standing and resultant networks, and Warburg Pincus’ strong track record of scaling brands into industry leaders," the firms said in a joint statement.
Haier has been looking to bring in a reputed Indian partner to ease regulatory challenges, particularly the requirement for approvals under Press Note 3 for investments involving entities from countries sharing land borders with India. The company also requires substantial capital to set up a third manufacturing facility in India, in addition to funding expansion and marketing initiatives.
It was earlier reported that Haier Appliances India had already sought Press Note 3 clearance from the Department for Promotion of Industry and Internal Trade for a fresh capital infusion of ₹1,000 crore by its Chinese parent. The Bharti–Warburg Pincus transaction, in contrast, will not require Press Note 3 approval.
The proposed deal is seen as part of a wider trend of Chinese companies reducing their presence in India or shifting majority stakes to Indian partners, similar to what automaker SAIC Motor did with MG Motor India when it sold a majority stake in the brand to the Sajjan Jindal group.
In May, Ant Group exited its $246 million investment in Paytm through block trades.
