New Delhi, March 28 -- VIP Industries Ltd promoter Dilip Piramal has revived stake sale plans, almost six months after talks to sell control of the listed luggage and travel accessories maker fell through, four people with knowledge of the development said.

The firm has appointed investment bank Arpwood to help it with the stake sale, the people said, speaking on the condition of anonymity. "Early days. We will have to see how the deal progresses," said one of the persons cited above.

Last year, the company was in advanced talks with global private equity firm Advent International to sell controlling stake, Mint had reported. "The deal did not go through due to various reasons, including valuation mismatch," the second person cited abov...