India's Vadilal Industries hits record high on report Bain to buy ice cream business

Vadilal Enterprises

10/07/2023 10:22

** Shares of Vadilal Industries Ltd  VDLI.NS  rise as much
as 18.6% to a record high of 3,294.65 rupees
    ** Private equity investor Bain Capital in talks to buy the
ice cream maker; eyes control of sister cos VDLI and Vadilal
Enterprises Ltd  VADE.BO  - CNBC-TV18 reports citing sources
    ** Bain interested in merging VDLI, VADE; ice cream business
valued at 30 billion rupees ($363.14 million) per deal talks -
CNBC-TV18
    ** VDLI, which owns the Vadilal brand, did not immediately
respond to Reuters request for comment; Bain declined to comment
    ** VDLI shares jump most since Feb 28, 2022; thinly traded
VADE shares rise as much as 5.1% to highest since Jan 23, 2023
    ** More than 317,000 VDLI shares change hands by 02:49 p.m.
IST, 12.2x their 30-day avg volume
    ** Stock up 20.5% YTD


($1 = 82.6130 Indian rupees)

 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))