Pidilite Ventures to Exit Buildnext via Share Swap with JSW One Platforms

New Delhi, May 2: Pidilite Ventures (PVPL), a wholly-owned subsidiary of Pidilite Industries, has entered into a definitive share swap agreement (SSA) with JSW One Platforms and Buildnext Construction Solutions. Under the terms of the deal, PVPL will transfer its entire shareholding in its associate company, Buildnext, to JSW One Platforms.

Additional Investment

As part of the same transaction, PVPL has committed to an additional investment of up to ₹22 crore in Buildnext through the subscription of Compulsorily Convertible Preference Shares (CCPS). This infusion will result in PVPL holding a majority stake in Buildnext on a fully diluted basis before the final execution of the share swap.

Share Swap Details

In exchange for its majority holding in Buildnext, PVPL will be issued shares in JSW One Platforms.

About the Companies

Buildnext Construction Solutions operates in the home design and project management services segment.

JSW One Platforms is the e-commerce venture of the JSW Group catering to the construction and manufacturing sectors. By acquiring this stake, the company is expected to strengthen its service offerings in the residential tech space.