Pidilite Ventures to invest Rs. 20 crores in Imagimake Play Solutions

The nature of subscription will be cash

Pidilite Industries Limited's wholly owned subsidiary namely Pidilite Ventures Pvt. Ltd. (PVPL) has agreed to make an investment of approximately Rs. 20 crores in Imagimake Play Solutions Private Limited, which is engaged in the business of design, manufacturing & distribution of innovative range of educational toys, games and art and hobby products for the holistic development of children, for Indian and overseas market.

The investment would be done by subscribing to compulsorily convertible preference shares which would, upon conversion, aggregate to not more than 20% of the issued and paid-up share capital of the Investee company, on a fully diluted basis.

The nature of subscription will be cash. Subscription to its shares is being done at a mutually agreed pre-money enterprise valuation, which has not been disclosed herein due to reasons of confidentiality.