Sale13 Jul 2025, 09:31 pm
Kemp & Company Ltd. to Sell 32% Stake in VIP Industries for Rs. 66,12 Crores
AI Summary
Kemp & Company Ltd. has announced its decision to sell up to 33,53,280 equity shares, constituting approximately 32% of the total paid-up share capital of VIP Industries Limited, to certain purchasers. The sale price for each share is Rs. 388, making the total consideration receivable Rs. 66,12,43,568. The sale is expected to be completed within 26 weeks from the expiry of the offer period as defined in the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulation, 2011. None of the purchasers form part of the promoter/promoter group/group companies. The transaction does not fall within related party transactions and is being undertaken outside of a scheme of arrangement.
Key Highlights
- Kemp & Company Ltd. to sell up to 33,53,280 equity shares in VIP Industries Limited
- The sale constitutes approximately 32% of the total paid-up share capital of VIP Industries
- The sale price for each share is Rs. 388, with a total consideration of Rs. 66,12,43,568
- The sale is expected to be completed within 26 weeks from the expiry of the offer period
- The transaction does not fall within related party transactions and is being undertaken outside of a scheme of arrangement