Hindware Home Innovation Limited has exercised its put option in joint venture Hintastica Private Limited following a notice from its partner regarding a potential change in control. The company disclosed this development to stock exchanges on March 24, 2026, pursuant to Regulation 30 of SEBI listing regulations.

Joint Venture Details and Investment

The put option exercise relates to Hindware Home Innovation's shareholding in Hintastica Private Limited, a 50:50 joint venture established with Atlantic Société Française de Développement Thermique, France under a Share Subscription and Shareholders' Agreement dated March 25, 2021.

Trigger for Put Option Exercise

The exercise of the put option was triggered pursuant to a notice received from Atlantic SFDT regarding a proposed transaction. This transaction, subject to satisfaction of conditions precedent, may result in a change in control of Atlantic SFDT, in accordance with the terms of the joint venture agreement.

The put option mechanism was built into the original shareholders' agreement to protect the interests of both parties in case of significant corporate changes affecting either partner.

Board Approval and Authorization

The Board of Directors, at its meeting held on March 24, 2026, considered the matter and approved the exercise of the put option. The board meeting commenced at 4:00 pm and concluded at 4:45 pm.

The board has authorized the management to take comprehensive actions including:

• Engagement of advisors and valuers
• Issuance of necessary communications
• Initiation of appropriate legal and contractual proceedings if required in case of disputes
• Enforcement of the company's rights under the joint venture agreement

Transfer Process and Valuation

The transfer of equity shares held by Hindware Home Innovation in HPL and the final consideration to be received are subject to determination in accordance with the terms and mechanisms set out in the joint venture agreement. This process will include valuation procedures and completion formalities to be conducted in due course.

The company has committed to making further disclosures in accordance with applicable SEBI and listing regulation requirements as and when required during the transfer process. The formal disclosure was communicated to both BSE Limited and National Stock Exchange of India Limited as per regulatory requirements.

Hindware Home Innovation Limited has received a GST demand order from tax authorities in Patna, requiring the company to pay Rs. 5,86,670 along with additional interest and penalty charges. The company disclosed this regulatory development to stock exchanges on March 17, 2026, in compliance with SEBI listing obligations.

GST Demand Order Details

The demand order was issued by the Superintendent, CGST & SGST, Patna, Bihar under Section 74 of the Central Goods and Services Act, 2017. The order was dated March 13, 2026, and received by the company on March 17, 2026.

Nature of Alleged Violation

The GST demand has been generated under Section 74 of the CGST Act due to alleged excess availment and utilization of Input Tax Credit (ITC). The violation period covers an extended timeframe from FY 2019-20 to FY 2022-23, spanning four financial years.

Company's Response Strategy

Hindware Home Innovation Limited has indicated its intention to challenge the demand order through appropriate legal channels. The company stated it will contest the demand and file an appeal against the order issued by the Patna GST authorities.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 and Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company fulfilled its obligation to inform investors about material developments that could impact its operations.

The company secretary Payal M. Puri signed the disclosure document, ensuring proper authorization and compliance with regulatory requirements. The matter represents a routine regulatory challenge that the company plans to address through established legal procedures.