Pidilite Ventures to invest in MagicDecor
Pidilite Industries Limited’s wholly owned subsidiary namely Pidilite Ventures Pvt. Ltd. (PVPL) has agreed to make an investment not exceeding Rs. 5.10 crores in M/s. Printpanda India Private Limited (MagicDecor) (‘the Investee Company’), which is engaged in the business of providing premium home décor solutions. The investment would be done by subscribing to equity shares and compulsorily convertible preference shares which would, upon conversion, aggregate to not more than 20% of the issued and paid-up share capital of the Investee company, on a fully diluted basis.
The nature of subscription will be cash. Subscription to its shares is being done at a mutually agreed pre-money enterprise valuation, which has not been disclosed herein due to reasons of confidentiality.
MagicDecor is engaged in the business of providing premium home décor solutions viz. wallpapers, blinds, curtains and canvas.
The turnover of Printpanda India Private Limited (MagicDecor) as on 31st March 2025 was at Rs. 6.29 Crores.
Sanket Parekh, Director at Pidilite Ventures, commented: “We are excited to partner with MagicDecor as they embark on their journey to transform the home décor space. The team has demonstrated impressive capability in marrying customization with quality, catering to the evolving needs of modern Indian homeowners and interior designers. We believe MagicDecor is uniquely positioned in the premium, personalized wall solutions market. Over the last two years, the team has demonstrated impressive traction by innovating across its product lines and scaling distribution and we look forward to supporting them in their expansion across India and overseas.”
The proceeds from this investment will empower MagicDecor to accelerate capacity expansion, invest in advanced technology and AI, and scale up both digital and physical distribution networks spanning major Indian cities.
Siddheshwar Panda, Co-founder & CEO of MagicDecor, said: “This strategic investment from Pidilite, a brand we have long admired for its leadership in the home improvement sector, marks a pivotal milestone in expanding our manufacturing capabilities, driving product innovation, and rapidly scaling our digital and physical distribution networks to reach more customers across India and globally. We look forward to leveraging Pidilite’s expertise and ecosystem.”
