Hindware Home Innovation Acquires Full Stake in Hintastica

Hindware Home Innovation Limited's Board of Directors has approved a two-part acquisition strategy for Hintastica Private Limited. The company will invest up to INR 15 crore via a rights issue in Hintastica, a joint venture with Atlantic Société Frangaise de Développement Thermique. Concurrently, Hindware will acquire Atlantic's entire remaining shareholding in Hintastica for approximately INR 2.79 crore. Following these transactions, Hintastica will become a wholly-owned subsidiary of Hindware Home Innovation. The company also approved extending a corporate guarantee of INR 25 crore for Hintastica's working capital facilities. This move aims to consolidate operations and strengthen the water heater business under the 'hindware' brand.