Multiples private equity launches open offer for V.I.P. Industries shares

Multiples Private Equity Fund IV and Multiples Private Equity Gift Fund IV, along with their persons acting in concert (PACs), have launched an open offer to acquire up to 37,056,229 fully paid-up equity shares of V.I.P. Industries Limited. These shares represent 26.03% of the target company's expanded share capital from its public shareholders.

The offer, managed by JM Financial Limited, has a tendering period commencing on November 13, 2025, and closing on November 27, 2025. The offer price for each equity share is set at INR 650. This price is higher than the average weekly high and daily high market prices preceding the public announcement. The pre-offer advertisement and corrigendum appeared in national and regional newspapers on October 31, 2025.

The acquirers aim to increase their stake in V.I.P. Industries Limited. All necessary regulatory disclosures regarding the open offer have been made.