Promoter group entities of VIP Industries have agreed to sell up to 58 per cent stake in the luggage company to a consortium of Multiples private equity for ₹3,200 crore, according to an exchange filing by the company. Kemp & Co, DGP Securities, Piramal Vibhuti Investments, Alcon Finance and Kiddy Plast, forming part of the promoter group, have agreed to sell up to 4.54 crore shares or 32 per cent of the company to Multiples PE funds, Samvibhag Securities, Mithun Padam Sancheti and Siddhartha Sancheti for ₹1,763.3 crore. Multiple PE consortium will also make an open offer to acquire an additional 26 per cent stake in the luggage company for ₹1,437.8 crore; post the acquisition they will acquire management and control of VIP Industries, the filing said. The shares are being sold by the promoter group entities at ₹388 apiece, a discount of 15 per cent to the closing price of the scrip on Friday.
Glenmark Pharmaceuticals has received a warning letter from the US FDA for the company’s Indore, Madhya Pradesh (India) facility. The US FDA had inspected Glenmark’s Indore site from February 3-14 February. The company does not believe that the warning letter will have an impact on supplies or the existing revenues from operations of this facility.
The board of Neogen Chemical has approved raising up to ₹200 crore through the issuance of fully paid, secured, listed, rated, redeemable, rupee-denominated, non-cumulative, non-convertible debentures (NCDs) on a private placement basis.
Shareholders of Awfis Space Solution has approved its plans to enter the business of manufacturing and selling furniture, aiming to cut costs and diversify its revenue stream.
Titagarh Rail Systems Ltd has acquired around 40 acres of land on lease for ₹126 crore from the West Bengal government, a move that will help the company ramp up production of Vande Bharat coaches and metro cars at its Uttarpara facility in Hooghly district, an official said. The land parcel spread across mouzas Kotrung and Bhadrakali, is contiguous to Titagarh’s existing 34-acre plant at Uttarpara, making it a critical addition to the company’s expansion plans, he said. The 99-year lease agreement, signed on July 12, 2025, involves a consideration of ₹126.63 crore, he said.
RITES has received an order worth ₹46.82 crore for construction and renovation of a Government First Grade college at various locations in Karnataka under the PM USHA Scheme from the Department of Collegiate and Technical Education (DCTE), Office of the Commissioner, Unnatha Shikshna Soudha, Seshadri Road, Bengaluru, which was earlier considered on Project Management Consultancy (PMC) basis, is now converted into a turnkey contract (cost of project plus RITES fees). The said order is expected to be completed in 36 months from the date of agreement.
Wheels India Ltd has infused 50,000 euros into its newly formed entity and subsidiary WIL Europe GmbH, the company said on Sunday. WIL Europe GmbH is in the process of formation and is yet to commence operations. It is being developed to expand and do business activities in Europe, Wheels India said.
Ceinsys Tech has received a letter of intent from Nashik Municipal Corporation for appointment of Project Management Consultancy Service for Improvement of Sewage Management System in Nashik City to prevent pollution in the river Godavari, based on the PPP-HAM Model amounting to ₹5.81 crore. The order is expected to be completed in one year, it said in a notice to the stock exchange.
The HFCL board has approved the enhancement of its Intermittent Bonded Ribbon (IBR) cable manufacturing capacity from ~1.73 million fiber km per annum (mfkm/p.a.) to ~19.01 mfkm/p.a. at its Hyderabad and Goa facilities, at a capital outlay of approximately ₹125.55 crore. This expansion is aimed at meeting rising global demand, particularly from North America and Europe. The company has orders for IBR cables from large hyperscalers, underscoring the market’s confidence in its capabilities. It strategically positions HFCL as a key player in this specialised and high growth segment.
Elpro International has acquired 16,649 equity shares of ‘Navin Fluorine International’ for ₹8,45 crore for investment purposes.
The insolvency appellate tribunal NCLAT has set aside NCLT’s direction to change the resolution professional of debt-ridden Hindusthan National Glass Industries (HNG) and asked it to take a decision on the bids in line with the Supreme Court’s directions. A three-member NCLAT bench gave a go-ahead to the Kolkata Bench of the National Company Law Tribunal (NCLT) to decide on the approval of bids for Hindusthan National Glass Industries in accordance with the directions passed by the Supreme Court “The adjudicating authority (NCLT) may proceed to hear and decide the plan approval application, as per the directions of Supreme Court dated May 16, 2025,” NCLAT said. Meanwhile, it informed the exchanges about the resignation of Neeraj Kumar Sureka, Independent Director, with effect from July 11.
JSW Paints Ltd, along with JTPM Metal Traders Pvt Ltd and JSW EduInfra Pvt Ltd, have announced an open offer for acquisition of nearly 1.15 crore fully paid-up equity shares of face value of ₹10 each of Akzo Nobel India Ltd from its public shareholders at ₹3,417.77 each. The shares to be acquired through the open offer represent up to 25.24 per cent of the voting share capital of Akzo Nobel India.
State-run NLC India is at an advanced stage of discussions with a Russian government-owned company for sourcing lithium from its mine in Africa. The development assumes significance as India is taking measures to ensure a stable supply of lithium to meet the country’s clean energy demand. NLC is also contemplating starting a consulting business abroad, initially in Sri Lanka, Bhutan, Nepal, Myanmar, Africa, and the Middle East and acquire battery mineral assets overseas — especially in Vanadium, Cobalt, Lithium and Copper, among others.
Suraj Industries has executed a new loan agreement worth Rs 20 crore with Carya Chemicals & Fertilizers (CARYA), a material subsidiary of the company, on July 11. The purpose of the agreement is to provide an Inter Corporate Loan to a subsidiary company for utilisation in the distillery project being set up by CARYA. The company holds 85.75 per cent stake in CARYA and the loan is to be given for a maximum period of three years from the date of disbursement, but may be extended by mutual discussion.
Published on July 14, 2025
