VIP Industries’ promoters -- Dilip Piramal and Family have entered into a definitive agreement with the Multiples Consortium to sell up to 32% stake in the company. Upon completion of the transaction, control of the company will be transferred to Multiples Private Equity while Dilip Piramal and Family will continue to be shareholders in the company. Dilip Piramal will be Chairman Emeritus.
Arpwood Capital acted as the exclusive financial advisor to the Dilip Piramal and Family in the said transaction. JM Financial is the Open Offer Manager. AZB & Partners acted as legal advisor to the Dilip Piramal and Family. Khaitan & Company acted as the legal advisor to Multiples. Anagram Partners acted as the legal advisor to the consortium members of Multiples.
VIP Clothing is a leading Manufacturer, Marketing and Distributor of Men’s and Women’s innerwear and socks under the brand name VIP, Frenchie, Feelings, Leader and Brat.
