JM Financial Limited has submitted to the Exchange a copy of Public Announcement for Open Offer V.I.P. Industries Limited. (the Target Company ) under Regulation 3 (1) and Regulations 4 read with Regulations 13, 14 and 15 (1) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 , As Amended.
VIPIND · price
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On the reaction day the stock moved 5.3 pts more than Nifty Microcap 250 and 6.2 pts more than its Plastic Products - Consumer peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Multiples Private Equity (along with persons acting in concert) is making a mandatory open offer to buy up to 3.70 crore equity shares of V.I.P. Industries, representing 26% of the expanded share capital, at ₹388 per share, for a total consideration of up to ₹1,437.78 crore. The offer has been triggered by a share purchase agreement (SPA) signed on July 13, 2025, under which the acquirers will purchase up to 4.54 crore shares (31.89%) from five Piramal-group seller entities for up to ₹1,763.31 crore. Post-transaction, the sellers' combined holding will drop from 49.23% to 17.34%, and the Multiples group will be classified as the new promoter of VIP Industries. The offer is not conditional on minimum acceptance, will be paid in cash, and there is no intention to delist the company. A detailed public statement is expected by July 18, 2025.
This announcement signals a change of control at VIP Industries from the Piramal group to Multiples Private Equity, with public shareholders getting a cash exit opportunity at ₹388 per share. The stock is likely to see heightened activity and could trade near or above the offer price in the near term as the deal progresses, subject to Competition Commission of India approval.