Somany Home Innovations Ltd. (SHIL) is a newly created Corporate Entity of HSIL Limited, vastly recognised by its Brand Hindware, a leading name in the Indian market. SHIL is focused on servicing end-consumers in the market and is involved in branding, marketing, sales, distribution, trading, service etc. of Consumer Appliances under the Brand name "Moonbow by Hindware" and Furniture Retail Business under the Brand name ‘Evok’.
SHIL envisaged the scheme of Demerger of three of its business undertakings into two new entities. The scheme involves:
- Demerger of its Consumer products distribution & marketing business to into new entity Somany Home Innovation Limited (SHIL).
- Demerger of its furniture and Home decor Retail business into SHIL.
- Demerger of distribution & marketing business relating to building product into another new entity Brilloca Limited which is wholly owned subsidiary of SHIL.
The segregation & demerger of Businesses into SHIL enables:
- Sharper focus and better alignment of the Businesses to its customers.
- Improved competitiveness, operational efficiencies and strengthening of position in the relevant marketplaces.
- Optimal monetization and development of each of the respective Businesses, including by attracting focused investors and strategic partners having the necessary ability, experience and interests in the relevant sectors.
- Dedicated and specialized management focus on the specific needs of the respective businesses.
- Benefit to all stakeholders, leading to growth and value creation in long run and maximizing the value and return to the shareholders, unlocking intrinsic value of assets, achieving cost efficiencies and operational efficiencies.