Pursuant to the provisions of Regulation 30 read with Schedule III of the SEBI(Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that Board of Directors ....
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Kemp & Company has approved the sale of up to 33,53,280 equity shares it holds in VIP Industries at Rs. 388 per share, potentially fetching around Rs. 66.12 crore in aggregate consideration. This stake represents about 25% of the company's net worth as of March 31, 2025. The sale is part of a larger transaction where the VIP Industries promoter group (including Kemp, DGP Securities, Kiddy Plast, Piramal Vibhuti Investments, and Alcon Finance) is collectively selling up to 4,54,46,305 shares (~32% of VIP Industries) to Multiples Private Equity Fund IV, Samvibhag Securities, and two Sacheti family members. A shareholders' agreement grants the buyers majority board control of VIP Industries, with vote-along obligations and transfer restrictions on the remaining promoter holdings. Closing is subject to Competition Commission of India approval and is expected to be completed within 26 weeks after the SEBI takeover offer period expires.
For Kemp & Company shareholders, this is a major monetisation event as the VIP Industries stake represents a significant portion of net worth, and the sale price of Rs. 388/share provides substantial cash inflow. For VIP Industries stock, the change in control to a PE-led consortium and the mandatory open offer triggered by the 32% acquisition will be the key near-term catalyst to watch.