RIL eyeing stake in Haier India, plans big ticket buys

Haier has been scouting for an Indian partner for several months now in order to comply with Press Note 3 norms

Reliance Industries is planning to step up its pace of acquisitions and looking for strategic big-ticket buys, sources said and as part of that is a potential stake in the Indian unit of Chinese appliances and consumer electronics maker, Haier.

The Mukesh Ambani-owned conglomerate has had Haier India in its sights for some time now and that interest could lead to an offer, sources said. They, however, indicated that it was not in a hurry to do that, and pricing would play an important part, as it would not likely make an offer at over $2 billion valuation.

Sources also indicated that Haier, with its range of products in the consumer electronics space, would make a good fit for Reliance Digital’s product portfolio. Reliance Digital produces a range of appliances under contract manufacturing and has plans to have its own manufacturing unit in the long term.

When contacted, a spokesperson for RIL declined comment on the developments. An e-mail sent to Haier India also did not elicit a response.

Scouting for partner

Haier has been scouting for an Indian partner for several months now in order to comply with Press Note 3 norms, that mandate government approval for investments from countries sharing borders with India, specifically China. The Chinese appliances maker is reportedly willing to sell a majority stake to an Indian partner.

A whole host of private equity firms have been lining up to buy a stake in Haier India, but so far, no deal has been struck and sources said that talks are still underway.

Haier Appliances India, a subsidiary of Haier Singapore Investment Holdings, has been operating in India since 2003 and is one of the leading brands spanning a range of products such as air conditioners, refrigerators, washing machines, televisions and water heaters.

Haier India makes around 90 per cent of its appliances locally and announced expanding its AC manufacturing capacity in Noida with an investment of ₹1,000 crore last month.

Published on April 28, 2025