Pidilite Ind hikes stake in Cipy Poly Urethanes
Pidilite Industries' subsidiary entity namely M/s. Cipy Poly Urethanes Pvt. Ltd. (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 January 05, 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.
This transaction does not constitute a material transaction for the Company and it is not a related party transaction.
At 2.04 pm, Pidilite Industries was trading at Rs. 1,781, down by 0.20%, with a volume of 7341 shares on the BSE.
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