New Delhi, Dec. 4 -- Whirlpool shareholders have been in a whirlwind in recent months.

Last week, Whirlpool Corp., the promoter of Whirlpool of India, sold 11.2% stake in the Indian entity. This was the first step towards bringing down the promoter's stake in the home-appliance maker from 51% to 20% by mid-2026.

The parent is offloading equity to pare down $1.85 billion of debt due in 2025 while restructuring globally. It has already spun off its European business into a new entity, sold operations in the Middle East and Africa, and now looks to raise about Rs.9,000 crore through the India stake sale.

The Whirlpool India stock has corrected more than 35% since January 2025, when the parent company's stake-sale plans first made news, an...