Hindware Home Innovation Exercises Put Option in Joint Venture Hintastica Private Limited Following Notice of Proposed Transaction
Hindware Home Innovation Limited (HHIL) has exercised its put option under the Share Subscription and Shareholders’ Agreement dated March 25, 2021, in respect of its shareholding in Hintastica Private Limited (HPL), a 50:50 joint venture between HHIL and Atlantic Société Française de Développement Thermique, France (Atlantic SFDT). The decision was triggered by a notice received from Atlantic SFDT regarding a proposed transaction that may result in a change in control of Atlantic SFDT. The Board of Directors of HHIL approved the exercise of the put option and authorized the management to take necessary actions. The transfer of equity shares and the final consideration are subject to determination in accordance with the JV Agreement.
Key Highlights
- Hindware Home Innovation exercised its put option in Hintastica Private Limited
- The decision was triggered by a proposed transaction that may result in a change in control of Atlantic Société Française de Développement Thermique, France
- The exercise of the put option was approved by the Board of Directors of HHIL
- The transfer of equity shares and the final consideration are subject to determination in accordance with the JV Agreement
- Further disclosures will be made in accordance with applicable disclosure requirements under SEBI / listing regulations