Multiples Private Equity Fund has acquired a controlling stake of ~32% in VIP Industries Limited for an aggregate consideration of ₹1,763 crore.
Khaitan & Co advised Multiples on this stake acquisition deal. The Firm assisted with the diligence of the VIP, structuring the transaction, negotiating and finalization of transaction documents. The firm also advised on the mandatory tender offer.
The core team consisted of Shishir Jose Vayttaden (Partner), Abhishek Dadoo (Partner), Aishwarya K (Partner), Shashank Patil (Counsel), Vritika Lakhwani (Senior Associate) and Gitika Lahiri (Associate) with assistance from the following:
Merger control related aspects.: Anisha Chand (Partner), Soham Banerjee (Counsel), Yatharth V Singh (Senior Associate) and Shubhanshu Jain (Associate);
Open offer and securities law related aspects: Shashank Patil (Counsel), Gaurang Mansinghka (Senior Associate) and Vritika Lakhwani (Senior Associate);
Real estate related aspects: Amruta Joshi (Counsel), Nupur Antrolikar (Associate) and Reet Shailesh Namjoshi (Associate);
Employment related aspects: Srishti Ramkrishnan (Counsel), Simran Sharma (Senior Associate) and Ajay Kranthi Kothwal (Associate);
Diligence related aspects: Vayttaden, Aishwarya K, Jayantika Khanna (Principal Associate), Gitika Lahiri (Associate), Modit Mendiratta (Associate) and Aathira Satish (Consultant);
Intellectual property related aspects: Nirupam Lodha (Partner), Shivangi Narang (Principal Associate), Gautam Wadhwa (Senior Associate) and Rebecca Cardoso (Associate).
AZB & Partners represented the promoters of VIP Industries, Dilip G Piramal and family, on this transaction.
The transaction team was led by Anand Shah (Senior Partner), Kinshuk Jhunjhunwala (Partner), Shriram Shah (Partner), with support from Aaysh Raman (Senior Associate) and Associates Jhanvi Sangani, Kareena Sobti and Articled Clerk Karan Nair.
VIP Industries is a prominent player in the luggage and travel accessories market in India, known for its innovative designs and quality products.
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