Pidilite Industries Limited’s wholly owned subsidiary namely M/s. Pidilite Ventures Pvt. Ltd. (PVPL) has agreed to make an investment of approximately Rs. 20 crores in M/s. Imagimake Play Solutions Private Limited (the Investee Company), which is engaged in the business of design, manufacturing & distribution of innovative range of educational toys, games and art & hobby products for the holistic development of children, for Indian and overseas market.
The investment would be done by subscribing to compulsorily convertible preference shares which would, upon conversion, aggregate to not more than 20% (twenty percent) of the issued and paid-up share capital of the Investee company, on a fully diluted basis. The nature of subscription will be cash. Subscription to its shares is being done at a mutually agreed pre-money enterprise valuation, which has not been disclosed herein due to reasons of confidentiality.
Shares of Pidilite Industries Limited was last trading in BSE at Rs. 2422.30 as compared to the previous close of Rs. 2500.10. The total number of shares traded during the day was 39596 in over 9869 trades. Courtesy: https://www.equitybulls.com/category.php?id=338352