Hindware Home Innovation accepts VP resignation effective June 30

hindware home innovation has accepted the resignation of Mr. Nikhil Maheshwari from the position of Vice President-Sourcing & NPD. The resignation, tendered to pursue a new opportunity outside the organization, was accepted by the management on June 19, 2026. Mr. Maheshwari will cease to be a Senior Management Personnel of the company effective June 30, 2026.

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that the details of the change are in accordance with the requirements of the SEBI Master Circular no. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Resignation Details

The following table outlines the key particulars regarding the change in senior management personnel as per the regulatory filing:

S. No.	Particulars	Details
1	Reason for Change	Resignation of Mr. Nikhil Maheshwari as Vice President- Sourcing & NPD and consequently cease to be a Senior Management Personnel of the Company.
2	Date of Cessation	Cessation will be effective from 30 June, 2026
3	Brief profile	NA
4	Disclosure of relationships between directors	NA

The resignation letter from Mr. Maheshwari was attached to the regulatory filing. The company stated that the information is available on its official website. Payal M Puri, Company Secretary and Sr. V.P. Group General Counsel, signed the disclosure on behalf of Hindware Home Innovation Limited.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.69%	+16.73%	+16.52%	-4.14%	-13.71%	-18.64%

Hindware Home Innovation Limited has approved the acquisition of the remaining shareholding in its joint venture, Hintastica Private Limited, for approximately ₹2.79 crore. The Board of Directors also sanctioned an investment of up to ₹15 crore to subscribe to a rights issue offered by Hintastica on June 1, 2026. These strategic moves will increase Hindware Home Innovation's stake to 100%, converting Hintastica into a wholly-owned subsidiary and terminating the existing joint venture agreement with Atlantic Société Française de Développement Thermique.

Investment and Acquisition Structure

The Board approved the subscription to 1,50,00,000 equity shares at a face value of ₹10 per share, aggregating to ₹15 crore. Concurrently, the company will acquire 5,48,787 equity shares from Atlantic, which declined to participate in the rights issue and sought a complete exit. The acquisition under the Share Purchase Agreement (SPA) is expected to be completed within 45 days from the execution date. Upon consummation, Hintastica will cease to be a joint venture.

The transaction details are summarised below:

Transaction	Counterparty	Consideration (INR)	Shares/Stake
Rights Issue Subscription	Hintastica Private Limited	15,00,00,000	1,50,00,000 equity shares (approx. 96.6%)
Share Acquisition	Atlantic Société Française de Développement Thermique	2,78,83,867	5,48,787 equity shares

Corporate Guarantee and Termination of Agreements

To support the enhanced shareholding, the Board approved the extension of a corporate guarantee of ₹25 crore. This guarantee provides additional security to lenders for the working capital facilities availed by Hintastica and will constitute a contingent liability for the company. The existing joint venture agreement and all ancillary arrangements, including the Share Subscription and Shareholders Agreement dated March 25, 2021, will terminate upon the completion of the acquisition.

About Hintastica and Financial History

Hintastica, incorporated on November 14, 2019, operates in the Consumer Durables and Home Appliances industry. Following the divestment of its manufacturing facility in October 2025, the entity functions as a distribution and marketing-led business with a presence in India, Nepal, and Bhutan. The company proposes to continue operating the water heater business under the “hindware” brand.

Hintastica's turnover for recent periods is presented below: