PIDILITE INDUSTRIES LTD. - Outcome of Board Meeting

Pidilite Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 30, 2015, has approved investment in equity shares of Nina Waterproofing Systems Private Limited ("Nina"). The proposed shareholding of the Company in Nina will be 70% (seventy-percent), thereby making Nina a subsidiary of the Company.<BR><BR>Nina was incorporated on November 11, 2014 and proposes to engage in the business of supply, installation and application of waterproofing systems.<BR><BR>The initial investment of the Company in Nina will be about Rs. 23.33 lakhs. The Board has also approved additional investment upto Rs. 100 crores in Nina.