Pidilite Industries has agreed to make an investment not exceeding Rs 3.78 crore in Kaarwan Eduventures, engaged in the business of providing interactive and result oriented education making it a one stop learning and up skilling platform for architects and designers.
The investment would be done by subscribing to Compulsorily Convertible Preference Shares, which on conversion would translate into 26% of the issued and paid up share capital of the Kaarwan Eduventures (on a fully diluted basis). The nature of subscription will be cash. Subscription to its shares is being done at a mutually agreed valuation.
Pidilite Industries is a well-known name in the adhesives market.
