Home / Business and Economy / RedTape Founders Eye $510M Stake Sale to Global Investors
RedTape Founders Eye $510M Stake Sale to Global Investors
13 Jan
Summary
- RedTape founders are in talks to sell a majority stake or their entire 71.8% holding.
- Global investors Blackstone and KKR are reportedly interested in the potential deal.
- The Indian footwear market is projected to reach $21 billion by 2028.
Founders of the Indian footwear brand RedTape are reportedly in discussions with global investment giants Blackstone and KKR regarding the divestment of a significant stake, potentially their entire 71.8% holding valued at approximately $510 million. This strategic consideration arises as the company seeks to leverage the burgeoning Indian footwear market.
Ernst & Young has been appointed as the exclusive financial advisor to manage the stake sale. The firm has initiated outreach to private equity firms, including Blackstone and KKR, to gauge interest and solicit non-binding offers for the founders' stake. The process remains confidential.
RedTape, established in 1996, faces competition from major global and domestic players in a sector projected for substantial growth. Despite recent share price pressures, the company has diversified its product line and maintains a notable retail presence across India and internationally.
