Hindustan Media Ventures Limited Invests in iDecorwala Spacefold Interiortech Labs Private Limited
NSE: HMVL: Rs.90.53(+0.52%) at 12-nov-2024 at 11.21 am
Incorporated in 1918, Hindustan Media Ventures Ltd is in the business of publishing ‘Hindustan’, a Hindi Daily and runs digital over-the-top platform viz. OTT Play.
Hindustan Media Ventures Limited Invests in iDecorwala Spacefold Interiortech Labs Private Limited
- On November 11, 2024, Hindustan Media Ventures Limited (HMVL) committed to an investment of Rs. 6.99 Crore in iDecorwala Spacefold Interiortech Labs Private Limited by subscribing to equity shares or compulsory convertible preference shares.
- The exact shareholding percentage HMVL will acquire will be finalized upon conversion of the compulsory convertible preference shares.
- HMVL’s investment aims at future capital returns and the strategic use of its media assets to support iDecorwala’s growth.
- The acquisition process is anticipated to conclude in November 2024.
- Founded in February 2024 under the brand name “iDecorwala,” the company serves as a specialized marketplace for home fabrication and décor products, including wallpapers and wall murals.
- iDecorwala also offers customized interior décor solutions tailored for residential spaces.
- Since iDecorwala was established in 2024, it has no turnover history from previous years.