Pidilite Industries’ wholly owned subsidiary -- Madhumala Ventures (Madhumala) has agreed to make an investment of Rs 1.56 crore in Constrobot Robotics, which is engaged in the business of research, development, manufacturing and trading of robotic equipment and related software to be used in construction activities.
The investment would be done through primary and secondary purchase of shares to acquire 19.51% of the issued and paid-up share capital of the Constrobot Robotics on a fully diluted basis. The nature of subscription will be cash. Subscription to its shares is being done at a mutually agreed valuation, which has not been disclosed herein due to reasons of confidentiality. Investment in the Constrobot Robotics would help augment capabilities to provide better services in construction activities to interested customers.
Pidilite Industries is a well-known name in the adhesives market.
