Major Stake Sale in VIP Industries

In a landmark deal, private equity major Multiples, alongside stock market investor Aakash Bhansali and CaratLane founder Mithun Sacheti, are set to acquire a significant 32% stake in VIP Industries from promoter Dilip Piramal for Rs 1,763 crore. This move marks a pivotal shift in the company's management and future direction.

Open Offer to Public Shareholders

As part of the transaction, the consortium will also make an open offer to the public shareholders of VIP Industries for an additional 26% stake at Rs 1,438 crore, further consolidating their control over the luggage maker.

Dilip Piramal's Legacy and Future Stake

Dilip Piramal, who took control of VIP Industries in 1980 after a family business separation, will see his stake reduce to 17% post-deal. Citing the younger generation's disinterest in managing the company and its recent market challenges, Piramal steps back, paving the way for new leadership.