Piramals Sells Stake In VIP: SEBI RA Weighs In On The Governance Shift Amid Weak Margins

Promoter Dilip Piramal and family have sold a substantial 32% stake worth ₹1,763 crore in VIP Industries to a consortium led by Multiples PE and Samvibhag Securities at ₹388 per share.

The transaction reduces their holding from 51.7% to around 19.7%, triggering a structural shift in control. The deal includes an open offer of 26%, which would hand the PE group up to 58% ownership.

SEBI-registered analyst Varunkumar Patel said the exit comes amid lacklustre financials and a leadership vacuum. 

He noted VIP’s fourth quarter FY25 results of revenue at ₹494 crore (down 4.3% year-on-year), a net loss of ₹33 crore versus a profit of ₹7 crore a year ago, and a weak core profit margin of just 2.1%.

The analyst noted the company’s financials as evidence of underperformance despite a 10–11% volume growth. Annual figures also showed flat revenue of ₹2,178 crore, a core loss of ₹91 crore, and a net loss of ₹69 crore, though volume gain remained solid.

Patel added that the stock initially dropped 4–5% on the stake sale news before recovering to ₹460, with technical support near ₹410 and resistance at ₹490. 

He noted that the actual impact of the open-offer price and execution on VIP’s future trajectory should be closely watched.

Patel said that the deal marks a major governance transition and could pave the way for strategic enhancements, including cost control, brand refresh, and expansion. However, striking the right open-offer price will be key.

On Stocktwits, retail sentiment was ‘bearish’ amid ‘normal’ message volume.

The stock has declined 4.1% so far in 2025.

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