Pidilite to invest USD 5 lakh in US-based subsidiary

Adhesives and industrial chemicals manufacturer Pidilite Industries today said it will invest USD 5 lakh 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 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 per cent up at Rs 1,120.45 apiece on the BSE.