New Delhi, Nov. 19 -- RPSG Ventures Ltd, part of the RP-Sanjiv Goenka Group, on Wednesday approved the acquisition of a 40% stake in FSP Design Pvt. Ltd, the company behind the luxury fashion label Falguni Shane Peacock (FSP), is marking its formal entry into India's luxury apparel and lifestyle market.

The deal is based on an enterprise valuation of Rs.455.17 crore, subject to post-closing price adjustments as specified in the share subscription and purchase agreement (SSPA).

RPSG Ventures said, in a filing, that its Board of Directors, at a meeting on Tuesday, cleared the execution of a share subscription and purchase agreement and a shareholders' agreement (SHA) with FSP Design and its promoters-Falguni Shane Peacock, Shane Jude Peac...