Latest news with #169
Economic Times
13-07-2025
- Business
- Economic Times
PE fund Multiples, Sachetis to acquire majority stake in VIP Industries
A consortium led by Multiples Alternate Asset Management and Samvibhag Securities is set to acquire a 32% stake in VIP Industries from the Piramal family. The deal includes Mithun Sacheti, founder of CaratLane, and will trigger an open offer for an additional 26% stake. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads A consortium of homegrown private equity fund Multiples Alternate Asset Management and Samvibhag Securities will buy an about 32% stake of VIP Industries from promoter Dilip Piramal & family, the luggage maker said on Sacheti, founder of jewellery retailer CaratLane, and his brother Siddhartha are also part of the buyers will launch an open offer later to acquire an additional 26% stake from the company's public shareholders that could take their stake to 58%.VIP Industries did not disclose the financial terms in its filing with stock exchanges. Its shares closed at Rs 456.40 on the BSE Friday, rising more than 12% in the past one month, giving it a market capitalisation of Rs6,482 aware of the deal terms told ET that the price would be lower than the current market price for both the initial purchase of shares from the promoters and the open Dilip Piramal & family owns a 51.7% stake. Among the public shareholders, Tata Small Cap Fund held a 1.54% stake and SBI Flexicap Fund owned 7% as of March 31. Foreign portfolio investors held a 7.68% & Company, DGP Securities, Kiddy Plast, Piramal Vibhuti Investments and Alcon Finance & Investment, which are entities forming part of the promoter group, have entered into an agreement to sell up to 45 million shares to the consortium, according to the to the terms, certain purchasers will acquire management and control of the company and would accordingly be required to make an open-offer for the purchase of additional 26% stake in the company, it 2023, Mithun Sacheti exited CaratLane by selling his 27% stake to Tata Group's Titan for Rs 4,621 crore, in one of the leading founder exits in Capital acted as the exclusive financial advisor to the Industries owns brands such as VIP, Carlton and Skybags. It has been losing out to Samsonite in the premium end and Safari Industries at the mass-end of the addition, new entrants such as Mokobara, Assembly and Uppercase have turned to offering discounts to lure buyers, impacting luggage industry profits or widening luggage demand remains stable, backed by continued penetration of hard luggage, steady tourism and corporate travel. However, realisations have reduced due to two company posted a 2% decline in net sales at Rs2,169 crore in fiscal 2025, when it posted a net loss of Rs81 crore.
Time of India
13-07-2025
- Business
- Time of India
PE fund Multiples, Sachetis to acquire majority stake in VIP Industries
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel A consortium of homegrown private equity fund Multiples Alternate Asset Management and Samvibhag Securities will buy an about 32% stake of VIP Industries from promoter Dilip Piramal & family, the luggage maker said on Sacheti, founder of jewellery retailer CaratLane, and his brother Siddhartha are also part of the buyers will launch an open offer later to acquire an additional 26% stake from the company's public shareholders that could take their stake to 58%.VIP Industries did not disclose the financial terms in its filing with stock exchanges. Its shares closed at Rs 456.40 on the BSE Friday, rising more than 12% in the past one month, giving it a market capitalisation of Rs6,482 aware of the deal terms told ET that the price would be lower than the current market price for both the initial purchase of shares from the promoters and the open Dilip Piramal & family owns a 51.7% stake. Among the public shareholders, Tata Small Cap Fund held a 1.54% stake and SBI Flexicap Fund owned 7% as of March 31. Foreign portfolio investors held a 7.68% & Company, DGP Securities, Kiddy Plast, Piramal Vibhuti Investments and Alcon Finance & Investment, which are entities forming part of the promoter group, have entered into an agreement to sell up to 45 million shares to the consortium, according to the to the terms, certain purchasers will acquire management and control of the company and would accordingly be required to make an open-offer for the purchase of additional 26% stake in the company, it 2023, Mithun Sacheti exited CaratLane by selling his 27% stake to Tata Group's Titan for Rs 4,621 crore, in one of the leading founder exits in Capital acted as the exclusive financial advisor to the Industries owns brands such as VIP, Carlton and Skybags. It has been losing out to Samsonite in the premium end and Safari Industries at the mass-end of the addition, new entrants such as Mokobara, Assembly and Uppercase have turned to offering discounts to lure buyers, impacting luggage industry profits or widening luggage demand remains stable, backed by continued penetration of hard luggage, steady tourism and corporate travel. However, realisations have reduced due to two company posted a 2% decline in net sales at Rs2,169 crore in fiscal 2025, when it posted a net loss of Rs81 crore.
Iraq Business
04-07-2025
- Business
- Iraq Business
Land Allocated for Economic City in Partnership with Elsewedy Electric
By John Lee. The Iraqi Cabinet has approved the allocation of part of plot (1/89, District 14, Al-Haswa), currently owned by the Ministry of Finance and designated for the Ministry of Defence, based on the Defence Ministry's actual land needs. A total of 2,400 dunams will be allocated to the Iraq Development Fund to contract with Elsewedy Electric for the establishment of an economic city, under the terms of a Memorandum of Understanding signed by both parties. The remaining land will be allocated to the National Investment Commission (NIC) for the development of large-scale economic cities. The Cabinet also approved an exemption from Cabinet Decision No. 169 of 2022 for this land allocation. (Source: PMO)
Hans India
20-06-2025
- Business
- Hans India
The Cascades Neopolis, ultra-luxury project unveiled
Hyderabad: GHR Lakshmi Urbanblocks Infra LLP—a collaborative venture of GHR Infra, Lakshmi Infra, and Urbanblocks Realty—has announced the launch of 'The Cascades Neopolis,' an ultra-luxury residential skyscraper project that promises to redefine the skyline and standards of high-rise living in Hyderabad. With an estimated investment of Rs3,169 crore, the landmark project will feature five towering 63-storey buildings, each rising 217 metres high, making it one of the tallest residential developments in South India. Located in the upscale Neopolis area, the development spans 7.34 acres and is expected to be completed by March 2030. The Cascades will house 1,189 spacious 3BHK and 4BHK apartments, ranging from 2,560 to 4,825 sq. ft, alongside 10 ultra-premium triplex penthouses equipped with private pools on the 54th floor. The project includes seven levels of parking (two basement and five podium levels) and will offer both ground-level and sky-level amenities. Positioned as a future-ready and environmentally responsible community, the project incorporates smart home automation, holistic wellness zones, landscaped gardens, and advanced sustainable features such as rainwater harvesting, solar-powered common areas, and air purification systems. The project is targeting prestigious WELL and IGBC Platinum Pre-Certifications—potentially becoming the first residential development in South India to achieve the former.
Hans India
14-06-2025
- Science
- Hans India
Veena Chari Awarded Ph.D. in Physics from Osmania University
Gadwal: V. Veena Chari has been awarded a Doctorate (Ph.D.) in Physics from Osmania University. He completed his research under the supervision of Associate Professor Dr. N. V. Prasad. The confirmation of his Ph.D. award was officially announced by the Examination Branch of Osmania University. Hailing from Aiza town in Jogulamba Gadwal district, Veena Chari had earlier secured All India Rank 169 in the CSIR-NET exam in 2017 and was selected for the prestigious Junior Research Fellowship (JRF). He then enrolled in the Ph.D. program at the Department of Physics, Osmania University. His research was titled "Electrical and Magnetic Studies on Aurivillius Phase Multiferroic Compounds." Parts of his research were conducted in collaboration with Prof. Srinivasan Gopalan from Oakland University, USA, and with support from DRML, DRDO, Hyderabad. He has published five research papers in various reputed international journals. On May 26, he officially submitted her Ph.D. thesis to Osmania University. Currently, he is working as a Junior Lecturer in Physics at Government Junior College, Manopad. On this occasion, the college Principal K. Padmavati and faculty members K. Venkatakrishna Reddy, B. Srinivasulu, B. Laxman Rao, K. Mahendranath Goud, Ch. Krishna, Swapna, Fouzia, Feroz, Shanawaz, Satish Reddy, and Balakrishna congratulated her on his academic achievement.
