Mumbai, July 14 -- According to the company's exchange filing, a consortium led by Multiples Alternate Asset Management and Samvibhag Securities has signed an agreement to acquire nearly 4.55 crore shares or 31.89% stake in the company from the Piramal family. The deal includes CaratLane's founder Mithun Sacheti. The shares have been acquired by the buyers for a total consideration of Rs 1,763.31 crore.

According to the SEBI Takeover Regulations, this transaction by the promoter group has triggered an open offer.

The acquirers have proposed to acquire up to 3,70,56,229 shares, constituting 26% stake, of VIP Industries at a price of Rs 388 apiece. This translates to an aggregate total consideration of Rs 1,437.78 crore.

Upon completion ...