Nina Waterproofing Systems Private Limited completed the acquisition of Percept Waterproofing Services Limited from Pidilite Industries Limited and others.
March 10, 2019
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Nina Waterproofing Systems Private Limited agreed to acquire Percept Waterproofing Services Limited from Pidilite Industries Limited (BSE:500331) and others on August 16, 2017. Under the terms, Nina Waterproofing Systems Private Limited will issue shares in the ratio of 3 equity shares for every 100 equity shares of Percept Waterproofing Services Limited. Post-acquisition, Pidilite Industries Limited will hold 71.53% stake in Nina Waterproofing Systems Private Limited. The deal shall be subject to the terms and conditions mentioned in the scheme and receipt of requisite approvals. The transaction is approved by board of directors of Nina Waterproofing Systems Private Limited and Percept Waterproofing Services Limited. As of February 8, 2019, deal has been approved by NCLT.
Nina Waterproofing Systems Private Limited completed the acquisition of Percept Waterproofing Services Limited from Pidilite Industries Limited (BSE:500331) and others on March 11, 2019. As a result of the transaction, Percept Waterproofing Services Limited has ceased to be the subsidiary of Pidilite Industries Limited.
Pidilite Industries Limited is an India-based manufacturer of adhesives and sealants, construction chemicals, craftsmen products, DIY (Do-It-Yourself) products, and polymer emulsions. The Company, together with its subsidiaries, is focused on consumer and industrial specialty chemicals. The Company's segments include Consumer and Bazaar (C&B), Business to Business (B2B), and Others. The C&B segment covers the sale of products mainly to end consumers, which are retail users such as carpenters, painters, plumbers, mechanics, households, students and offices, among others. The Company's products include adhesives, sealants, art and craft materials and construction and paint chemicals. The B2B segment includes industrial products such as adhesives, synthetic resins, organic pigments, pigment preparations, construction chemicals (projects) and surfactants, among others. It caters to various industries, such as packaging, textiles, joineries, printing inks, paper and leather, among others.
Nina Waterproofing Systems Private Limited completed the acquisition of Percept Waterproofing Services Limited from Pidilite Industries Limited and others.