Promoter Group entities of VIP industry have agreed to sell 32 percent interest in the luggage company to Multiples PE company and three others, according to an exchange request by the company.
Kemp & Co, DGP Securities, Piramal Vibhuti Investments, Alcon Finance and Kiddy Plast, who are part of the promotional group, have agreed to sell a maximum of 4.54 CRORE shares of the company to multiples PE, Samvibhag Securities, Mithun Padam Sancheti.
Certain buyers will also make an open offer to acquire an extra interest of 26 percent in the luggage company and to post the acquisition, they will acquire the management and control of VIP industry, according to the submission.
The financial details of the transaction were not announced in the first application at the stock exchanges.
According to Exchange Data DGP Securities at the end of March, about 27 percent had an interest in VIP industry, Vibhuti Investments had 15.7 percent, while Kemp & Company had 2.4 percent interest, Kiddy pee 2.3 percent and Alcon Finance about 2 percent.
Promoter Dilip Piramal kept a small interest of 0.5 percent.
The Acquirers have the right to appoint the majority of the directors of the Council and DGP, have the right to recommend the Nomination and Remuneration Committee of the company, eligible candidates for appointing 1 independent director or his wife or 1 of his linear descendants as 1 non-unforgamant.
Promoter Group entities and DGP have a tag in the event that the buyers proposed to sell effects that they are obliged to a third party through a negotiated trade on which the third party would be obliged to make a mandatory open offer.
Published on July 13, 2025
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