tumbled over 10 per cent on the on Thursday, trading at ₹1,070.30 as of 12.50 pm, down ₹130.60 from the previous close of ₹1,200.90. The sharp decline followed a block deal announcement where promoter Whirlpool Mauritius will sell up to 95 lakh shares, representing 7.51 per cent of the company’s equity.
The accelerated bookbuild offering is structured as a fully secondary sale with a floor price of ₹1,030 per share, marking a steep 14.2 per cent discount to the previous closing price. The deal size is estimated at approximately ₹910-965 crore, depending on the final pricing.
Market participants reacted negatively to the large stake sale, with the stock opening at ₹1,084 and touching an intraday low of ₹1,055.80. Trading volumes surged significantly, with 93.92 lakh shares worth ₹1,006.25 crore changing hands by midday, substantially higher than typical volumes.
Analysts view the development as neutral to marginally negative in the short term, as large promoter stake sales often create downward pressure on stock prices due to increased supply. The deliverable quantity stood at 37.87 per cent of traded volume, indicating a mix of genuine buying and speculative activity.
The stock, which hit a 52-week high of ₹1,981.10 in December 2024, has been under pressure in recent months, with Thursday’s decline bringing it closer to its 52-week low of ₹899.