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India.com
5 days ago
- Business
- India.com
54 year old company will be sold! has turnover of Rs 64820000000 in 45 countries, occupies 50% of market, it is…
Luggage and travel accessories company VIP Industries is set to be sold after 54 years of operations. The company, which has a presence in 45 countries and a market capitalization nearing Rs 7,000 crore, holds a commanding 50% share in India's branded luggage market. The move will also trigger an open offer to acquire 26 per cent share from the open market, as per the SEBI Takeover Regulations by Multiples consortium. Dilip Piramal and Family has entered into a 'definitive agreement with the Multiples Consortium to sell up to 32 per cent stake in the Company,' according to a joint statement issued by both the companies. 'Upon completion of the transaction, control of the company will be transferred to Multiples Private Equity while Dilip Piramal and Family will continue to be shareholders in the Company,' the statement said. Dilip Piramal will be Chairman Emeritus of VIP Industries, it added. Open Offer At Rs 388 per Share Later, the VIP Industries also updated the exchanges about the open offer from the Multiples consortium, to acquire 3.70 crore shares of the company from its public shareholders. 'The Open Offer is made at a price of Rs 388/- per Offer Share, which has been determined in accordance with Regulations 8(2) of the SEBI (SAST) Regulations,' it said. Assuming full acceptance of the Open Offer, the total consideration payable by Multiples will be Rs 1,437.78 crore. The open offer price is around 15 per cent lower than the closing price of VIP Industries on BSE on Friday, which was at Rs 456.40. In the last one year, share prices of VIP Industries' highest trading price was on September 24, 2024 at Rs 580.6 and lowest on April 9, 2025 at Rs 259.7. As on March 2025, the promoter and promoter entity were holding 51.73 per cent shareholding in VIP Industries. 'The transaction, including the open offer, is subject to approval of the Competition Commission of India and will be in accordance with the SEBI Takeover Regulations,' the joint statement added. VIP Chairman Dilip Piramal On Sale Commenting on the development, VIP Chairman Dilip Piramal welcomed Multiples consortium as 'strategic partners' in the Company. 'This marks an important step toward reviving the company's strong legacy and helping it regain its foothold in the Indian luggage market, where it has struggled in recent years,' he said. Renuka Ramnath, Founder, MD and CEO of Multiples Alternate Asset Management said:' Multiples is excited to lead the ownership transition of the very strong legacy business of VIP and further build on its rich heritage and unlock its next phase of growth.' VIP Industries, which has a market capitalization of Rs 6,481.78 crore, competes with Samsonite and Safari Industries in the premium and mass segment. The company, which owns brands such as Aristocrat, VIP, Carlton, Skybags and Caprese had over 50 per cent market share in the branded luggage market in FY24. However, now the company is facing stiff competition from rivals and its market share is gradually reducing. For the financial year ended on March 31, 2025, VIP Industries' revenue was at Rs 2,169.66 crore. It has over 10,000 Points of Sale in 45 countries. Multiples is an Alternate Asset Management company, backed over 30 enterprises. It focuses on core sectors of financial services, pharma & healthcare, consumer and technology and more recently the green economy. (With Inputs From PTI)
Yahoo
09-07-2025
- Business
- Yahoo
Lesaka Webcast and Conference Call to Review Fourth Quarter and Year-End 2025 Results
JOHANNESBURG, July 09, 2025 (GLOBE NEWSWIRE) -- Lesaka Technologies, Inc. (NASDAQ:LSAK, JSE: LSK) ("Lesaka") today announced it will release fourth quarter and year-end 2025 results after the U.S. market close on September 3, 2025. Lesaka management will host a presentation webcast and conference call on September 4, 2025, at 8:00am EDT (2:00pm SAST), followed by a live question and answer session for analysts and investors. Webcast Registration Link to access the results webcast: Participants using the webcast will be able to submit questions during the live Question and Answer session. Conference call dial-in via Chorus Call: Link to register: Call passcode: 6578199 Dial in details and individual pin to be provided on registration. Participants using the conference call dial-in will be able to ask their questions during the live Question and Answer session. Following the presentation, an archived version of the webcast will be provided on Lesaka's Investor Relations website. About Lesaka ( Lesaka Technologies, (Lesaka™) is a South African Fintech company driven by a purpose to provide financial services and software to Southern Africa's underserviced consumers and merchants. We offer an integrated and holistic multiproduct platform that provides transactional accounts, lending, insurance, merchant acquiring, cash management, software and Alternative Digital Payments ("ADP"). By providing a full-service fintech platform in our connected ecosystem, we facilitate the digitization of commerce in our markets Lesaka has a primary listing on NASDAQ (NASDAQ:LSAK) and a secondary listing on the Johannesburg Stock Exchange (JSE: LSK). Visit for additional information about Lesaka Technologies (Lesaka™). Investor Relations Contacts: Phillipe Welthagen Idris Dungarwalla Email: Email: Mobile: +27 84 512 5393 Mobile: +44 7462 254852 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
07-07-2025
- Business
- Globe and Mail
Security Testing Market Future Growth, Latest Technologies, Business Scenario, Key Segments and Forecast to 2029
"IBM (US), HCLTech (India), Synopsys (US), OpenText (UK), Cigniti (US), Qualitest (UK), Intertek (UK), DXC Technology (US), eInfochips (US), Checkmarx (US), HackerOne (US), Invicti (US), DataArt (US), Cobalt Labs (US), Trustwave (US), Contrast Security (US), Veracode (US), Qualys (US), OffSec (US)." Security Testing Market by Type (Network, Application, Device, Social Engineering), Network Security Testing (Penetration Testing, Vulnerability Scanning, Firewall), Application Testing Tools (RASP, SAST, DAST, IAST) - Global Forecast to 2029. The size of the global security testing market is expected to increase at a Compound Annual Growth Rate (CAGR) of 24.7% from USD 14.5 billion in 2024 to USD 43.9 billion by 2029. Security testing is growing as a result of the increasing sophistication and frequency of cyberattacks, which compel businesses to proactively identify and fix vulnerabilities. The market is also growing because of the need for regular security testing to guarantee compliance and safeguard sensitive data because of stringent regulatory regulations like GDPR, HIPAA, and PCI DSS. Download PDF Brochure@ Based on the application testing tools, SAST accounts for the highest market size during the forecast period. The adoption of Static Application Security Testing (SAST) tools is increasing as organizations prioritize secure software development. SAST tools enable developers to identify and fix security vulnerabilities early in the coding process, reducing the risk of security flaws in production. This shift is driven by the growing emphasis on integrating security into the software development lifecycle (SDLC) and the need to comply with stringent security standards. As a result, more companies are adopting SAST tools to enhance code security, improve development efficiency, and ensure that applications are robust against cyber threats from the outset. By Application security testing type, web application security testing accounts for the highest market size during the forecast period. The adoption of web application security testing is growing as organizations increasingly rely on web-based platforms for business operations and customer interactions. With the rise in cyber threats targeting web applications, such as SQL injection and cross-site scripting (XSS), companies are prioritizing security testing to identify and mitigate vulnerabilities before they can be exploited. This proactive approach is driven by the need to protect sensitive data, ensure compliance with regulations, and maintain customer trust in an environment where web applications are a critical part of the business landscape. By Region, Asia Pacific will grow at the highest CAGR during the forecast period. The adoption of security testing services in the Asia Pacific region is rapidly increasing due to the region's expanding digital economy and the rising threat of cyberattacks. As businesses in Asia-Pacific embrace digital transformation and cloud computing, the need to identify and address vulnerabilities in their systems has become crucial. Regulatory pressures and growing awareness of cybersecurity risks are also driving organizations to invest in security testing solutions to ensure the resilience of their IT infrastructure and protect sensitive data from breaches. This trend is further fueled by the region's diverse and complex threat landscape, prompting a proactive approach to cybersecurity. Request Sample Pages@ Unique Features in the Security Testing Market Security testing tools are increasingly integrated into DevSecOps workflows, enabling continuous testing throughout the software development lifecycle. This shift allows organizations to identify and remediate vulnerabilities early in the coding phase, improving application security and reducing time-to-market. Modern security testing platforms utilize artificial intelligence (AI) and machine learning (ML) to enhance threat detection. These technologies analyze vast amounts of data, recognize complex attack patterns, and predict potential vulnerabilities, leading to faster and more accurate identification of risks. With the growing adoption of cloud computing, security testing solutions are evolving to provide robust testing for cloud-native applications, containers, and serverless architectures. Cloud-based security testing offers scalability, on-demand access, and supports hybrid and multi-cloud environments effectively. The market now demands end-to-end testing that spans various layers — including web, mobile, APIs, networks, and IoT devices. Comprehensive solutions offer static, dynamic, and interactive application security testing (SAST, DAST, IAST), ensuring a thorough security assessment across platforms. Major Highlights of the Security Testing Market The security testing market is experiencing significant growth due to the surge in sophisticated cyberattacks targeting critical infrastructure, applications, and data. Organizations are increasingly prioritizing proactive security testing to safeguard against threats like ransomware, data breaches, and zero-day vulnerabilities. There is a marked transition from traditional manual testing to automated and continuous testing models. This evolution is driven by the need for faster development cycles and real-time security feedback, especially in Agile and DevSecOps environments. The widespread adoption of cloud computing and mobile-first strategies has led to heightened demand for security testing across diverse platforms. Tools now cater to SaaS, PaaS, IaaS, mobile apps, and hybrid infrastructures, ensuring end-to-end security coverage. Security testing solutions are being embedded within continuous integration and delivery pipelines. This integration enables early detection of vulnerabilities, improved collaboration between development and security teams, and faster mitigation of risks. Inquire Before Buying@ Top Companies in the Security Testing Market IBM (US), HCLTech (India), Synopsys (US), OpenText (UK), Cigniti (US), Qualitest (UK), Intertek (UK), DXC Technology (US), eInfochips (US), Checkmarx (US), HackerOne (US), Invicti (US), DataArt (US), Cobalt Labs (US), Trustwave (US), Contrast Security (US), Veracode (US), Qualys (US), OffSec (US), NCC Group (UK), GitHub (US), Bugcrowd (US), Applause (US), Rapid7 (US), Parasoft (US), BreachLock (US), ImmuniWeb (Switzerland), Pentest People (UK), SafeAeon (US), and (Poland) are the key players and other players in the security testing market. IBM (US) is a computer, technology, and IT consulting corporation. The company operates through various segments, such as cognitive solutions, global business services, technology services and cloud platforms, systems, and global financing. IBM's clients comprise individual users, specialized businesses, and institutions, such as government, IT, defense, and educational organizations. In the category of security testing services, IBM offers X-Force Red Penetration Testing Services, X-Force Red Social Engineering Services, and X-Force Red Offensive Security Services. With the geographic presence across North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America, the company caters to various industries, such as IT, healthcare, life sciences, government, telecom, automobile, manufacturing, chemicals and petroleum, electronics, energy and power, media and entertainment, mining, retail, BFSI, travel and transportation, education, and others. Synopsys (Canada) provides advanced technologies for chip design, verification, IP integration, and software security and quality testing. The company's security IP solutions segment includes a range of cryptography cores, security protocol accelerators and processors, embedded security IP modules, secure boot and cryptography middleware as well as content protection IP for integration into system-on-chips. These IP solutions also provide the highest levels of security for a range of products in the mobile, automotive, digital home, lot, and cloud computing markets. These integrated solutions enable the most efficient silicon design and the highest level of security to help prevent a wide range of evolving threats in connected devices. For security testing, Synopsys provides software tools such as Polaris, an AppSec which is used from development to deployment; Coverity which find security and quality defects in code; Seeker which automates web application security testing in DevOps; as well as Static Application Security Testing (SAST); Interactive Application Security Testing (IAST); and Defensics Fuzz Testing. It also provides services such as penetration testing services, MAST and others. With more than 30 years of experience, Synopsys has more than 14,000 employees and is present across North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. OpenText (UK) is a notable player in the security testing market, offering comprehensive solutions through its security and risk management platform. Its tools focus on vulnerability management, penetration testing, and compliance, helping organizations identify and mitigate security risks to protect critical data and systems. Cigniti (US) is a prominent player in the security testing market, providing end-to-end cybersecurity testing services such as vulnerability assessments, penetration testing, and risk analysis. Its solutions help organizations identify vulnerabilities, ensure compliance, and strengthen the security of their applications and infrastructure. Qualitest (UK) is a key player in the security testing market, offering a range of services including penetration testing, vulnerability assessments, and security audits. Its solutions help organizations proactively identify security risks, ensure compliance, and protect critical assets from cyber threats across applications and IT infrastructures. Apart from prominent vendors, some other key players, such as BreachLock (US), ImmuniWeb (Switzerland), Pentest People (UK), SafeAeon (US), and (Poland) are also evolving in the security testing market.
Business Upturn
27-06-2025
- Business
- Business Upturn
Waaree Energies: Promoter Chimanlal Doshi acquires 45.93% equity stake through gift transfer
By Aditya Bhagchandani Published on June 27, 2025, 10:12 IST Waaree Energies disclosed a major promoter group transaction on exchanges today as Chimanlal Tribhuvandas Doshi, a member of the promoter group, has acquired 45.93% equity stake in the company through an off-market gift transfer. According to the stock exchange filing, Doshi received 13.19 crore equity shares on June 24, 2025, taking his holding to 45.93% of Waaree Energies' total paid-up share capital. Before this transaction, Doshi did not hold any shares in the company. The company clarified that the transaction falls under inter-se promoter transfers as per SEBI (SAST) Regulations and was executed between immediate relatives. Waaree Energies' total equity capital remains unchanged at Rs 287.28 crore, comprising 28.72 crore shares with a face value of Rs 10 each. The filing confirmed that there is no change in the total voting capital post this acquisition. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Economic Times
24-06-2025
- Business
- Economic Times
CCI okays Bain Capital's proposal to acquire stake in Manappuram Finance
The Competition Commission of India (CCI) has approved Bain Capital's proposed acquisition of a stake in Manappuram Finance and Manappuram Asset Finance. Bain Capital, through its affiliates, will acquire shares via private placement, warrants, and an open offer, potentially reaching an 18% stake in Manappuram Finance. This deal, valued at Rs 4,385 crore, is subject to SEBI's SAST rules. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The Competition Commission of India (CCI) on Tuesday approved Bain Capital 's proposed acquisition of a stake in Manappuram Finance Bain Capital through its two affiliates -- BC Asia Investments XXV and BC Asia Investments XIV -- will acquire stakes in Manappuram Finance Ltd (MFL)."The proposed transaction involves four phases, where BC Asia Investments XXV (acquirer 1) will subscribe to 9.29 crore fully paid-up equity shares of MFL through private placement and preferential allotment."Further, subscription to 9,29,01,373 warrants of MFL by acquirer 2 (BC Asia Investments XIV), which can be exercised (in one or more tranches) at any point between 4 to 18 months from their date of allotment, each carrying a right to subscribe to 1 equity share of MFL," the regulator said in a Asia Investments XXV and its persons acting in concert are also offering to purchase up to 24.42 crore fully paid-up equity shares through an open offer, representing 26 per cent of the expanded voting share capital from public shareholders of MFL, as per the the transaction will trigger a mandatory open offer under the Sebi's SAST (Substantial Acquisition of Shares and Takeovers) the competition watchdog also granted its approval for the acquisition of Manappuram Asset Finance Ltd (MAFL) by Manappuram Finance."CCI approves proposed combination involving acquisition in Manappuram Finance Ltd and Manappuram Asset Finance Ltd by Bain Capital," the competition watchdog said in a post on primarily provides gold loans , vehicle loans, and MSME loans. MAFL is mainly engaged in providing gold March this year, Bain Capital announced that it entered into definitive agreements to acquire joint control in MFL through its affiliates, BC Asia Investments XXV and BC Asia Investments XIV, in partnership with the existing part of the agreement, Bain Capital will invest Rs 4,385 crore to acquire an 18 per cent stake in MFL on a fully diluted basis via preferential allotment of equity and deals beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices as well as promotes fair competition in the marketplace.
