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The promoters, holding a 51.74% stake in VIP Industries, have reportedly put their entire stake up for sale.
The development revives sale discussions initiated nearly a year ago by the Dilip Piramal-led promoter group. (Representative image)
Global private equity firm Advent International is reportedly in advanced discussions to acquire a controlling stake in VIP Industries, a listed luggage and travel accessories manufacturer.
According to a report by Mint, this development revives sale discussions initiated nearly a year ago by the Dilip Piramal-led promoter group.
“The deal has been revived, and Advent is the front-runner,” the report quoted a source, noting that negotiations remain inconclusive and could still fall through.
The promoters, holding a 51.74% stake in VIP Industries, have reportedly put their entire stake up for sale. This move could trigger an open offer, as mandated by regulatory guidelines.
As of the September 2024 quarter, the promoter stake is valued at approximately Rs 3,379 crore, based on the company’s market capitalisation of Rs 6,531.91 crore.
The transaction is expected to include a 10-15% premium over the current market price of Rs 459.95 per share on the NSE.
