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PE firms 360 One, Multiples eye stake in VIP Industries

Livemint

Livemint · 2m ago

PE firms 360 One, Multiples eye stake in VIP Industries

Domestic private equity firms, including Multiples Alternatives and 360 One, are in negotiations to acquire a 26% stake in VIP Industries, a leading luggage and travel accessories manufacturer in India. This transaction is part of the Piramal family's ongoing efforts to exit the business. The potential stake sale may trigger an open offer. Previously, attempts to sell a controlling stake in VIP Industries fell through in November. VIP Industries holds a significant market share in the organized luggage category.

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PE fund Multiples, Sachetis to acquire majority stake in VIP Industries

Economic Times

Economic Times · 1m ago

PE fund Multiples, Sachetis to acquire majority stake in VIP Industries

Multiples Alternate Asset Management and Samvibhag Securities will acquire a 32% stake in VIP Industries from promoter Dilip Piramal and his family. Mithun and Siddhartha Sacheti are part of the buying consortium. An open offer will follow for an additional 26% stake, potentially increasing their stake to 58%. VIP Industries didn't disclose financial terms, but sources suggest the price below market value. VIP faces competition from Samsonite and Safari Industries, affecting its market position and financial performance.

Multiples, Alpha Wave, VLCC, 360 One WAM, LEAD Group, NTPC, and Arohan in news

VCCircle

VCCircle · 10m ago

Multiples, Alpha Wave, VLCC, 360 One WAM, LEAD Group, NTPC, and Arohan in news

Grapevine: Multiples Alternate Asset Management and Alpha Wave Global are making moves in the Indian market, while VLCC, 360 One WAM, LEAD Group, NTPC, and Arohan are also making headlines. Multiples and SHV Energy are looking to sell their stake in Indian assets, and Alpha Wave Global is in talks to acquire a stake in a beauty and wellness company. Meanwhile, LEAD Group and 360 One WAM plan to raise capital.

VIP owners sell 32% stake to consortium, to trigger open offer for luggage firm

Livemint

Livemint · 1m ago

VIP owners sell 32% stake to consortium, to trigger open offer for luggage firm

VIP Industries' promoters have sold a 32% stake in the company for ₹1,764 crore to a group of investors, including Multiples PE Fund IV, Multiples Gift Fund IV, Samvibhag Securities, and individual investors Mithun Padam Sacheti and Siddhartha Sacheti. The transaction will trigger an open offer, enabling the buyers to potentially acquire more shares in the company.

Smaller IT firms are the new darlings of PE firms

Livemint

Livemint · 2m ago

Smaller IT firms are the new darlings of PE firms

Private equity firms, including Blackstone, EQT, and Multiples, are increasingly investing in India's smaller IT services companies with under $250 million valuations. These companies are appealing due to their faster growth, lean operations, and product-focused strategies, boosted by AI and SaaS efficiencies. Recently, Multiples invested $200 million in QBurst, EQT acquired WSO2 and Indium, and Blackstone took a controlling stake in R Systems, reflecting growing interest in agile tech ventures.

VIP Industries promoters explore stake sale

Livemint

Livemint · 1y ago

VIP Industries promoters explore stake sale

The promoters of VIP Industries Ltd, India's largest luggage and travel accessories maker, are considering selling their stake in the company. The deal, including a potential open offer, could be valued at around $1 billion and result in the promoters exiting the business. Private equity firms are expected to be interested in the asset, given VIP Industries' market share and the growing demand for travel-related products in India. The promoters have hired InCred Capital to manage the sale.

Goldman Sachs snaps up PeopleStrong as Multiples PE makes an exit

VCCircle

VCCircle · 4m ago

Goldman Sachs snaps up PeopleStrong as Multiples PE makes an exit

Goldman Sachs Alternatives has acquired a majority stake in PeopleStrong, a Gurgaon-based human resources technology company, from Multiples PE. PeopleStrong offers an AI-powered SaaS platform for human capital management, serving various industries. It aims to expand its user base from over 2 million to 10 million globally. The acquisition details remain undisclosed, but Multiples PE held nearly 90% since their 2017 investment. Goldman Sachs has been a significant investor in India since 2006.

Multiples PE eyes Ebco; GIC, ADIA join PE consortium for Haldiram deal

VCCircle

VCCircle · 1y ago

Multiples PE eyes Ebco; GIC, ADIA join PE consortium for Haldiram deal

Indian private equity firm Multiples Asset Management is in advanced talks to acquire a controlling stake in furniture hardware company Ebco. If the negotiations are successful, Multiples will become the majority owner of Ebco. However, other investors are reportedly involved in the deal as well.

Nisaba Godrej resigns as independent director from the board of VIP Industries

Livemint

Livemint · 1y ago

Nisaba Godrej resigns as independent director from the board of VIP Industries

Nisaba Godrej has resigned as an independent director from the board of VIP Industries due to differences in succession planning with founder-chair Dilip Piramal. Radhika Piramal, Dilip's daughter and VIP's London-based vice-chairperson, has expressed reluctance to continue running the business, prompting the family to consider selling its stake. Godrej's resignation comes as VIP Industries faces tough competition from Samsonite and cheaper Chinese manufacturers. The company has also seen top-level exits and a decline in profit. VIP Industries' CEO, Neetu Kashiramka, has outlined strategies to revive the company's fortunes.

Disha Eye Hospitals may tap foreign investor for maiden PE fundraise

VCCircle

VCCircle · 10m ago

Disha Eye Hospitals may tap foreign investor for maiden PE fundraise

Disha Eye Hospitals Pvt Ltd, an eyecare center based in Kolkata, is considering raising equity funds for the first time. The hospital is looking to dilute a minority stake and has attracted interest from both global investors and domestic private equity firms. The funds raised will be used to further develop and expand the hospital's services.

Multiples PE makes its second bet in logistics sector

VCCircle

VCCircle · 8m ago

Multiples PE makes its second bet in logistics sector

Multiples PE, a private equity firm, has invested $35 million in logistics company INSTANT-XP for a minority stake. This is the firm's second bet in the logistics sector, after investing in Delhivery back in 2014. INSTANT-XP plans to use the investment to enhance its technological capabilities and expand its network and service offerings. No information was disclosed about the size of the stake acquired by Multiples or the company's valuation. INSTANT-XP offers transport, logistics, and container renting services, with a fleet of 1,110 vehicles.

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