VIP Industries block deal: Promoters sell 6.2% stake for ₹343 crore

Promoters of VIP Industries offloaded a 6.2% stake in the company on Thursday through a block deal worth ₹343 crore. Piramal Vibhuti Investments and Kiddy Plast sold 88.4 lakh shares at an average price of ₹388.2 apiece.

Multiples Private Equity Fund picked up 60 lakh shares for ₹233 crore, while Samvibhag Securities acquired 22 lakh shares for ₹86 crore.

The latest transaction comes after a major July deal, when Multiples Private Equity Fund IV, Multiples Private Equity Gift Fund IV,

Samvibhag Securities, along with Mithun and Siddhartha Sacheti, together acquired a 32% stake in VIP Industries from a group of promoters.

The consortium had also announced a mandatory open offer for an additional 26% stake in the company. The acquirers will spend an additional ₹1,437 crore to buy up to 3.7 crore shares at ₹388 each under the open offer, taking the overall transaction value for a 58% stake to ₹3,200 crore.

Also read: Polycab India promoters sell 1.5% stake in block deal worth ₹1,740 crore



Separately, VIP Industries has seen changes in its leadership. The board approved the resignation of managing director Neetu Kashiramka, effective from the close of its meeting on 23 September.

She will, however, continue to lead the company until October 31, 2025. Atul Jain has been appointed as the new managing director for a five-year term starting 23 September.

Shares of VIP Industries closed 3.7% lower at ₹410.35 on the NSE.