Pidilite Industries Ltd. intends to set up a lending business by acquiring Pargro Investments Pvt. for Rs 10 crore from the company's promoters.
The credit will be provided by the company in the form of small-value retail loans, which will help in the growth of multiple businesses in the ecosystem, according to its exchange filing.
ADVERTISEMENT
Pargro will be acquired by the company under a share-purchase agreement by March 31, 2024. Pidilite also plans to invest up to Rs 100 crore in a span of two years for the growth of the new business, it said.
Pargro Investments belongs to the company's promoter group.
Shares of Pidilite Industries closed 1.46% higher at Rs 2,473.05 apiece on the BSE, as compared with a 0.05% rise in the benchmark Sensex.
WRITTEN BY
Add us to your Preferences
Set as your preferred source on Google
ADVERTISEMENT
RECOMMENDED FOR YOU
Activewear Maker TechnoSport To Invest Rs 200 Crore To Open 300 Exclusive Stores
Sep 14, 2025
New IPO: Plastic Bag Maker Knack Packaging Eyes Rs 475 Crore Fundraise Via Fresh Issue
Sep 05, 2025
OpenAI Is Reviewing Your Chats With ChatGPT, Notifying Police In Special Cases
Sep 01, 2025
'Tongue-In-Cheek Name': Elon Musk Unveils AI-Driven Software Firm 'Macrohard' To Take On Rival Microsoft
Aug 23, 2025
POPULAR
1
Trump Extends Deadline To Secure TikTok Deal Until December 16
2
Nestle's Paul Bulcke Steps Down Earlier Than Expected, Pablo Isla Named New Chairperson
3
Best Out Of Waste: Centre Earns Rs 3,300-Crore Revenue From Disposal Of Office Waste
4
Trump Threatens ABC Reporter Over Hate Speech Question | Watch Video
5