Dilip Piramal, Chairman of VIP Industries, announced that the younger generation in his family is not interested in managing the business. Amid declining market share and recent losses, the company decided to sell a 32% stake to private equity investors.
VIP Industries, valued at ₹6,830 crore, has seen fluctuating stock prices over the past year. Piramal expressed regret for not selling earlier when shares were valued higher.
He recently sold the 32% stake for ₹1,763 crore, marking the end of his 52-year leadership at VIP Industries.
