Hindware Home Innovation Acquires Full Stake in Hintastica

Hindware Home Innovation Limited's Board of Directors has approved a significant strategic move to acquire the remaining 5,48,787 equity shares of Hintastica Private Limited from Atlantic Société Frangaise de Développement Thermique, France. This acquisition, valued at approximately INR 2.79 crore, follows Atlantic's decision not to participate in Hintastica's rights issue. Hindware Home Innovation will also invest up to INR 15 crore in Hintastica via the rights issue. Upon completion, Hintastica will transition from a joint venture to a wholly-owned subsidiary, strengthening Hindware's position in the water heater market under the 'hindware' brand. The company also extended a corporate guarantee of INR 25 crore to Hintastica.