Sunil Mittal and Warburg Pincus bid $720M for 49% in Haier India amid lower-than-expected valuation.

• Haier initially sought $2B for a stake but received reduced bids due to high brand fees.
• The deal may grant employees 2% stake and plan for a stock listing within two years.
• Haier India operates three manufacturing units for appliances and had earlier talks with Reliance.