Pidilite Industries Limited increases stake in Cipy Poly Urethanes Pvt. Ltd.

Pidilite Industries Limited's shareholding in its 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 dated 5th January 2018. Consequent to this, CIPY is now a wholly owned subsidiary of the Company. The consideration of Rs 60.49 Crores (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.

Shares of PIDILITE INDUSTRIES LTD. was last trading in BSE at Rs.1788 as compared to the previous close of Rs. 1770.6. The total number of shares traded during the day was 42014 in over 1021 trades.

The stock hit an intraday high of Rs. 1799 and intraday low of 1755.6. The net turnover during the day was Rs. 75049250.

Source : Equity Bulls

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