Pidilite arm to swap Buildnext shares for JSW One, invest ₹22 Cr

Pidilite Industries' wholly-owned subsidiary, Pidilite Ventures Pvt. Ltd. (PVPL), has entered into a Share Swap Agreement with JSW One Platforms Limited and Buildnext Construction Solutions Private Limited. Under this agreement, PVPL will transfer its entire shareholding in Buildnext, an associate company, to JSW One in exchange for JSW One shares. As part of the transaction, PVPL will also make an additional investment of up to ₹22 crore in Buildnext by subscribing to Compulsorily Convertible Preference Shares (CCPS). The completion of the share transfer and CCPS investment is expected by August 10, 2026. Buildnext, which operates in home design and project management services, reported a turnover of ₹18.38 crore and a net loss of ₹9.11 crore for the financial year ended March 31, 2025. This investment aims to strengthen Pidilite's presence in an adjacency business.