Pidilite Industries’ wholly owned subsidiary -- Pidilite Ventures (PVPL) is all set to make further investment of Rs 6 crore in Buildnext Construction Solutions (Buildnext) by subscribing to compulsorily convertible preference shares of Buildnext. The compulsorily convertible preference shares subscribed by PVPL shall upon conversion, along with the existing shares held by PVPL in Buildnext, not exceed 28% of the issued and paid up share capital of Buildnext, on a fully diluted basis. The nature of subscription will be cash.
Pidilite Industries is a well-known name in the adhesives market.
