Pidilite Industries Limited (BSE:500331) agreed to acquire 70% stake in Cipy Poly Urethanes Private Limited for approximately INR 960 million on January 5, 2018. During the year ended March 31, 2017, Cipy Poly Urethanes Private Limited had turnover of INR 1.1 billion. The transaction is not subject to governmental approvals. The Board of Directors of Pidilite Industries Limited approved the transaction on January 5, 2018. The transaction is expected to complete within two months. As of January 24, 2018, the transaction is expected to complete by end of February 2018. Pidilite Industries Limited (BSE:500331) completed the acquisition of 70% stake in Cipy Poly Urethanes Private Limited on February 9, 2018.