JM Financial Limited has Submitted to the Exchange a copy of detailed public statement in terms of Regulations 3(1) and 4 read with Regulations 13(4), 14(3) and 15(2) and other applicable Regulations of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as amended to the public shareholders of the Company.

JM Financial, on behalf of Multiples Private Equity Fund IV and Multiples Private Equity GIFT Fund IV (the Acquirers) along with four persons acting in concert, has filed a Detailed Public Statement for a mandatory Open Offer to buy up to 3.70 crore equity shares (26% of expanded share capital) of V.I.P. Industries Limited at ₹388 per share, aggregating up to ~₹1,437.78 crore. The offer is triggered by a change-of-control deal signed on July 13, 2025, where the existing promoter group (DGP Securities, Piramal Vibhuti Investments, Kiddy Plast, Kemp & Co., and Alcon Finance – all linked to the Piramal family) will sell their controlling stake via a Share Purchase Agreement plus the open offer, taking the Acquirers' combined holding to 31.89%. The Acquirers will be re-classified as the new promoters of the company. The transaction is subject to Competition Commission of India approval. The offer price of ₹388 per share is payable in cash and the Acquirers have stated no intention to delist the company.