Hindustan Media Ventures Limited — JV/Acquisition, 11-11-2024: Acquisition

Hindustan Media Ventures Limited has entered into an agreement to invest Rs. 6.99 Crore in iDecorwala Spacefold Interiortech Labs Private Limited by subscribing to its equity shares and convertible equity-linked instruments. This investment targets the growing home interior industry, aiming to leverage the company's media assets for future capital returns. iDecorwala, founded in February 2024, is positioned as a marketplace for home fabrication and décor products, while also providing customized interior solutions. The acquisition is expected to enhance market positioning and operational efficiencies for Hindustan Media Ventures. Shareholding percentage will be determined upon the conversion of the compulsory convertible preference shares.