Hindware Rights Issue is scheduled on 7 – 22 Nov 2024
Hindware Home Innovation is a key player in India’s building products and consumer appliances sector and in manufacturing, marketing, and distributing a diverse product portfolio for residential and commercial markets. The company’s operations are divided into three primary segments:
- Consumer Appliances Business (CAB): Hindware Smart Appliances offers a wide range of kitchen and home products designed for modern living. Through its partnership with Formenti & Giovenzana, the company enhances homes with premium kitchen and furniture fittings, delivering quality and sophistication.
- Building Products: The company provides sanitaryware, faucets, premium tiles, and plastic pipes and fittings, catering to India’s construction and infrastructure sectors.
- Water and Room Heaters: Through its joint venture, Hintastica Private Limited (HPL), Hindware Atlantic offers water and room heaters for residential and commercial use, with a focus on reliable and energy-efficient solutions.
The product range includes consumer appliances like kitchen appliances, air coolers, fans, and furniture fittings. In the building products segment, the company provides sanitaryware, faucets, high-quality tiles, and plastic pipes and fittings.
Promoters of the Hindware Home Innovation – Mr. Sandip Somany, Ms. Sumita Somany, Ms. Divya Somany, M/S. Sandip Somany HUF, Mr. Shashvat Somany, Ms/. Somany Impresa Limited, and Matterhorn Trust
Hindware Rights Issue Details
| Hindware Rights Issue Date | 7 – 22 November 2024 |
| Hindware Rights Issue Price | INR 220 per share |
| Issue Size (in Shares) | 1,13,49,962 shares |
| Issue Size (in INR) | INR 249.70 crore |
| Issue Entitlement | 119 equity shares for every 758 equity shares held on record date |
| Terms of Payment | Fully payable at the time of application |
| Hindware Rights Issue Record Date | 25 October 2024 |
| Face Value | INR 2 per share |
| Listing On | BSE, NSE |
Hindware Rights Issue Calculation
| Hindware Rights Issue Price | INR 220 per share |
| Market Price on Rights Issue Approval | INR 341.65 per share |
| Dilution Factor (X) | 1.16 |
| Fair Value After Dilution at Prevailing Price | INR 325.14 per share |
Hindware Financial Performance
| FY 2022 | FY 2023 | FY 2024 | |
| Revenue | 2,294 | 2,872 | 2,800 |
| Expenses | 2,118 | 2,627 | 2,562 |
| OPM (%) | 8.0 | 9.0 | 8.0 |
| Net income | 203.49 | 66.46 | 36.75 |
| ROCE (%) | 22.0 | 15.0 | 10.0 |
Hindware Rights Offer Objectives
The net proceeds from the offer are proposed to be used for the following objective
- The lending of fresh loans to Hindware Limited (“HL”, one of the subsidiaries of the company) to facilitate them to repay / pre-pay in full or part of secured working capital loans availed by them from Banking institutions
- Repayment or pre-payment, in full or in part, of all or a portion of certain borrowing availed by the company
Hindware Rights Offer Documents
Hindware Home Innovation Rights Issue Dates
| Rights Issue Approval Date | 18 October 2024 |
| Rights Issue Record Date | 25 October 2024 |
| Credit of Rights Entitlement | Coming soon |
| Rights Issue Opening Date | 7 November 2024 |
| Last Date for Market Renunciation | 18 November 2024 |
| Rights Issue Closing Date | 22 November 2024 |
| Finalization of Basis of Allotment | Coming soon |
| Rights Allotment Date | Coming soon |
| Credit Date | Coming soon |
| Listing Date | Coming soon |
Hindware Rights Offer Lead Manager
FINSHORE MANAGEMENT SERVICES LIMITED
Anandlok Building, Block-A, 2nd Floor, Room No. 207, 227
A.J.C Bose Road, Kolkata-700020, West Bengal, India
Phone: +91 33 22895101 / +91 33 4603 2561
Email: [email protected]
Website: www.finshoregroup.com
Hindware Rights Offer Registrar
CAMEO CORPORATE SERVICES LIMITED
“Subramanian Building”, No. 01, Club House Road,
Mount Road, Chennai – 600 002, Tamil Nadu
Phone: +91-44-40020700, 28460390
Email: [email protected]
Website: www.cameoindia.com
HINDWARE HOME INNOVATION LIMITED
Unit No 201 (1), (II), (IIIA), (XVI) 2nd Floor,
BPTP Park Centra, Sector-30, NH-8, Gurugram-122001
Phone: +91 124-4779200
E-mail: [email protected], [email protected]
Website: www.hindwarehomes.com
Hindware Rights Offer FAQs
What is the Hindware Rights Issue Price?
The issue price is INR 220 per share.
What is the Hindware Rights Issue entitlement ratio?
The eligible shareholders are offered 119 Equity Shares for every 758 Equity Shares held on the record date.
What is the Hindware Rights Issue Record Date?
The Record date is 25 October 2024.
How to Apply in the Hindware Rights Offer?
The best way to apply in the Hindware Rights Offer is through Internet banking ASBA. You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an application Form form and deposit the same to your broker.
