Pidilite Ventures Pvt. Ltd. (PVPL), a wholly owned subsidiary of Pidilite Industries, will invest up to ₹5.1 crore in Printpanda India Private Limited (MagicDecor). The investment will be through equity shares and convertible preference shares, resulting in less than 20% ownership of MagicDecor on a fully diluted basis. MagicDecor provides premium home décor solutions.
Strategic Investment in Home Décor Solutions
Pidilite Ventures Pvt. Ltd. (PVPL), a wholly owned subsidiary of Pidilite Industries, has agreed to invest an amount not exceeding ₹5.1 crore in Printpanda India Private Limited, also known as MagicDecor. This investment aims to strengthen Pidilite’s presence in the premium home décor sector.
Investment Details and Rationale
The investment will be executed through a subscription to equity shares and compulsorily convertible preference shares of MagicDecor. Post-conversion, this will aggregate to less than 20% of the issued and paid-up share capital of MagicDecor on a fully diluted basis. The nature of subscription is cash, based on a mutually agreed pre-money enterprise valuation.
About MagicDecor
MagicDecor is in the business of providing premium home décor solutions including wallpapers, blinds, curtains, and canvas. Incorporated on February 20, 2020, MagicDecor’s turnover for the last three financial years is as follows:
- FY25 (ending March 31, 2025): ₹6.29 Crores
- FY24 (ending March 31, 2024): ₹5.09 Crores
- FY23 (ending March 31, 2023): ₹5.72 Crores
This strategic move aligns with Pidilite’s objective to invest in adjacency businesses and expand its offerings in the home improvement and décor segment. The completion of the acquisition is expected by December 15, 2025.
Source: BSE