Piramal family to sell 32% stake in VIP Industries: Report
After the deal, control of the company will shift to Multiples Private Equity
Pitch Feature
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According to media reports, VIP Industries announced that Dilip Piramal, Chairman of the company, and his family will sell up to 32% of their stake in the company to the Multiples Consortium.
After the deal, control of the company will shift to Multiples Private Equity, though the Piramal family will still hold some shares. Piramal will take on the role of Chairman Emeritus.
The deal will also trigger an open offer, as required by SEBI rules, and is subject to approval from India’s competition regulator.
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