Pidilite Industries’ shareholding in its subsidiary entity namely Cipy Poly Urethanes (CIPY), has increased from 70% to 100%, pursuant to the acquisition of the balance 28,249 equity shares from certain other shareholders, in accordance with the provisions of the shareholders agreement dated January 5, 2018.
Consequent to this, CIPY is now a wholly owned subsidiary of the Company. The consideration of Rs 60.49 crore (excluding certain contingent payment) has been paid in cash.
Pidilite Industries is a well-known name in the adhesives market.
