Hindware Home Innovation Limited (the “Company”) today announced that its Board of Directors has approved a composite scheme of arrangement (the “Scheme”) to (a) demerge its entire Consumer Products Business into a newly formed subsidiary, HHIL Limited, and (b) amalgamate the remaining assets and liabilities of the Company into its other subsidiary, Hindware Limited, which focuses on the Building Products business.

The Company currently operates two businesses: Consumer Products, which includes kitchen appliances, consumer appliances, fixtures and fittings, and water heaters; and Building Products, encompassing sanitaryware, faucets, tiles, and plastic pipes & fittings, operated through its subsidiary, Hindware Limited.

As a result of the Scheme, a shareholder of the Company holding one share in the Company will be allotted one share of HHIL Limited and one share of Hindware Limited. HHIL Limited and Hindware Limited shares will be listed on stock exchanges and Hindware Home Innovation Limited as a Company will cease to exist.

Commenting on the Scheme, Sandip Somany, Chairman, Hindware Home Innovation Limited said, “This strategic Scheme is designed to unlock significant shareholder value by capitalizing on the distinct characteristics of each business, including differing distribution channels, competitive landscapes, capital requirements, and investor profiles. This restructuring will enable focused growth, attract targeted investment, enhance operational efficiency, and improve management visibility.”

The Appointed date of the Scheme is April 1st, 2025, and is subject to the applicable approvals, including those of the shareholders and creditors of the companies involved, as well as the approval of the Hon’ble National Company Law Tribunal, having jurisdiction over the companies involved in the Scheme.