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VIP Industries' promoter stake to be bought by Multiples PE, Mithun Sancheti: CNBC-TV18 Newsbreak ConfirmedPurchasers will have the right of first offer followed by a right of first refusal in the event the promoter entities and Dilip Piramal intend to sell their securities to any third party.By Mangalam Maloo    | Hormaz Fatakia   July 13, 2025, 10:01:31 PM IST (Updated)2 Min ReadMultiples Private Equity Fund IV, Multiples Private Equity Gift Fund IV, Samvibhag Securities Pvt. Ltd., Mithun Sancheti and Siddhartha Sancheti, have come together to acquire 32% stake in VIP Industries, held by a group of promoters, confirming a CNBC-TV18 newsbreak from Friday, July 10.

The deal was announced on Sunday evening. The buyers will also make a mandatory open offer for an additional 26% stake in the company.

However, The price at which the stake will be acquired or the open offer price has not been disclosed.

Entities such as DGP Securities, Kemp and Company Ltd., Piramal Vibhuti Investments Ltd., Alcon Finance and Investments Ltd., DGP Enterprises Pvt. Ltd., Kiddy Plast Ltd. and Dilip Piramal form part of the sellers group in this transaction.

At the end of the March quarter, DGP Securities had a 27.01% stake in the company, Vibhuti Investments had a 15.72% stake, Kemp and Company Ltd. had a 2.36%, Kiddy Plast had a 2.34%, Alcon Finance Investments had a 1.98% and DGP Enterprises had a 1.38% stake. Dilip Piramal had a 0.45% stake in the company.

The purchasers will acquire up to 4.54 crore shares of the company of these group of sellers highlighted above, which amounts to 32% of the total outstanding.

Purchasers will be entitled to nominate majority of the directors to the board of the company, while Dilip Piramal will have the right to recommend to the nomination and remuneration committee of the company, eligible candidates for the appointment o one independent director or his wife or one of his lineal descendants for appointment as one non-independent executive director.

Purchasers will have the right of first offer followed by a right of first refusal in the event the promoter entities and Dilip Piramal intend to sell their securities to any third party.

Promoters of VIP Industries had earlier alluded to exploring selling their stake due to a lack of succession.

Shares of VIP Industries had ended 1.6% higher on Friday at ₹456. The stock has risen 13% in the last one month.Continue ReadingFirst Published: Jul 13, 2025 9:39 PM ISTCheck out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!TagsMerger and Acquisitionshare market todayVIP IndustriesVIP Industries share price