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Pidilite to invest USD 5,00,000 in its US-based subsidiary

"The company proposes to invest an amount of USD 5,00,000 as equity capital contribution in Pidilite Ventures LLC," Pidilite said in a regulatory filing.


PTI 08 Aug 2018, 02:46 PM India

Adhesives and industrial chemicals manufacturer Pidilite Industries today said it will invest USD 5,00,000 (little over Rs 3.4 crore) as equity capital contribution in US-based Pidilite Ventures LLC.

"The company proposes to invest an amount of USD 5,00,000 as equity capital contribution in Pidilite Ventures LLC," Pidilite said in a regulatory filing.

Pidilite Ventures LLC, incorporated in the USA, is proposed to be engaged mainly in investments in early-stage operating companies in the USA, it added.

Pidilite Ventures will be a wholly-owned subsidiary of the company.

Shares of Pidilite today ended 1.32 percent up at Rs 1,120.45 apiece on the BSE.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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