Pidilite Ventures Pvt. Ltd. (PVPL), a wholly owned subsidiary, has agreed to invest up to ₹3.75 crore in Buildnext Construction Solutions Private Limited through the subscription of Compulsorily Convertible Preference Shares (CCPS). This investment, made via cash at a pre-money valuation, will increase PVPL’s total diluted shareholding in Buildnext to not exceed 34%. The acquisition is strategic, focusing on the home design and project management services sector, with completion expected by February 2026.
Strategic Further Investment in Buildnext
Pidilite Industries Limited today announced that its wholly owned subsidiary, M/s. Pidilite Ventures Pvt. Ltd. (PVPL), will make an additional investment in Buildnext Construction Solutions Private Limited (“Buildnext”). The commitment is for an amount not exceeding ₹3.75 crore, acquired via the subscription of Compulsorily Convertible Preference Shares (CCPS).
The investment is structured as a cash subscription, agreed upon at a mutually agreed pre-money enterprise valuation (which remains confidential). Following the conversion of these new preference shares, PVPL’s total ownership stake, along with existing shares, will not exceed 34% of Buildnext’s issued and paid-up share capital on a fully diluted basis.
Investment Rationale and Details
This transaction aligns with Pidilite’s strategy of investment in adjacency business. Buildnext operates within the Home design and project management services industry.
Key details regarding the transaction are outlined below:
- Target Entity: Buildnext Construction Solutions Private Limited (‘Buildnext’).
- Acquisition Price: Not more than Rs. 3.75 crore.
- Shareholding Acquired: Not more than 34% (on a fully diluted basis).
- Transaction Type: This is Not a Related Party Transaction, and the promoter group has no existing interest in the Investee Company.
- Completion Timeline: The acquisition is tentatively scheduled for completion by February 2026.
Buildnext Background
Buildnext was incorporated on 16/10/2015 and operates exclusively in India. Its recent financial performance shows consistent growth:
- Turnover as on 31st March, 2025: Rs. 18.38 Cr.
- Turnover as on 31st March, 2024: Rs. 13.87 Cr.
- Turnover as on 31st March, 2023: Rs. 10.14 Cr.
This is a continuation of the strategic relationship initiated with a prior intimation made on 28th October 2024.
Source: BSE
