MAM
Pidilite acquires Huntsman Group’s India subsidiaries
MUMBAI: Pidilite has approved a definitive agreement with US-based Huntsman Group for acquiring 100 per cent stake in one of their subsidiaries in India – Huntsman Advanced Materials Solutions Private Ltd (HAMSPL) – for Rs 2,100 crores.
HAMSPL manufactures and sells adhesives, sealants and other products under Araldite, Araldite Karpenter and Arasealin India. In the calendar year 2019, its business revenue was approximately Rs 400 crores. In addition to the Indian sub-continent business, the acquisition includes a trademark license for Middle East, Africa and ASEAN countries.
Under the agreement, Huntsman will receive approximately 90 per cent of the cash consideration at closing and balance approximately 10 per cent under an earnout within 18 months if the business achieves sales revenue in-line with 2019. The transaction is expected to close by next week. HAMSPL has a nation-wide distribution network and a strong presence in retail trade.
Pidilite Industries Ltd executive director Apurva Parekh said, “Araldite is an iconic brand and a market leader in epoxy adhesives in India. We are thankful for all the support extended by the Huntsman group and we are confident that our association will remain strong going forward.”
Pidilite managing director Bharat Puri stated, “With this acquisition, Araldite will add to the already very strong portfolio of Pidilite’s adhesive and sealant brands and will complement our retail portfolio. We are confident that this acquisition will create significant shareholder value through strong revenue and cost synergies.”
MUMBAI: In India’s fast-moving payments race, Visa has just swiped in a new leader. The company has named Suresh Sethi as its India country head, marking a key leadership shift as it sharpens its focus on digital payments growth in the market. Sethi steps into the role following his recent exit from Protean eGov Technologies, where he served as chief executive officer. He succeeds Sandeep Ghosh, who has moved on after more than four years at Visa to pursue an external opportunity.
The appointment comes at a time when Visa is doubling down on its expansion strategy across India and the wider region, deepening partnerships and accelerating adoption in an increasingly competitive digital payments ecosystem.
Sethi brings with him a broad, cross-market perspective shaped by decades of experience across corporate banking, retail financial services, mobile money and large-scale government technology initiatives. He began his career at Citigroup, where he spent 14 years working across India, Africa, South America and the United States, focusing on transaction banking services within the corporate bank.
His appointment signals a blend of institutional experience and market familiarity qualities that could prove critical as Visa navigates a landscape where fintech innovation, regulatory evolution and consumer adoption are all accelerating at once.
As digital payments in India continue to scale rapidly, the leadership change underscores a simple reality, in a market where every tap, scan and swipe counts, who leads the charge can matter just as much as the technology itself.
