REDTAPE

** Shares of RedTape Ltd REDT.NS rise as much as 6.3% to 128.9 rupees

** Footwear and apparel maker acquires international sports footwear brand SPRANDI for India, Nepal, Bhutan and Sri Lanka, does not disclose deal amount

** Adds, co will be launching the brand in the Indian market very soon through online and retail stores

** Stock up 6.1% so far this week, set for second week of gains

** More than 567,000 shares traded as of 9:40 A.M. IST, vs 30-day moving avg of 358,033

** REDT last up 2.4%, cuts YTD losses to 2.2%

(Reporting by Meenakshi Maidas in Bengaluru)

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April 8 (Reuters) - RedTape REDT.NS:

• REDTAPE - BUYS SPRANDI BRAND FOR INDIA, NEPAL, BHUTAN, AND SRI LANKA

Source text: ID:nNSE6dzpKx

Further company coverage: REDT.NS

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Feb 12 (Reuters) - RedTape REDT.NS:

• REDTAPE - DEC-QUARTER CONSOL PROFIT 1.05 BILLION RUPEES

• REDTAPE - DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 7.87 BILLION RUPEES

Source text: ID:nBSE8ylmVc

Further company coverage: REDT.NS

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Adds share reaction in paragraph 2, graphic

By Vibhuti Sharma and Aditya Kalra

MUMBAI, Jan 13 (Reuters) - Indian footwear firm RedTape's founders are soliciting interest from Blackstone and KKR as they look to sell a majority stake or even their entire holding worth nearly $510 million, according to sources and a document seen by Reuters.

Shares in RedTape rose as much as 16% on the Reuters report, its biggest ever intraday gain, before closing 11% higher.

Launched in 1996, RedTape REDT.NS competes with global giants such as Nike NKE.N, Adidas ADSGn.DE, Bata India BATA.NS and Campus Activewear CAMU.NS in a sector set to grow 11% a year to $21 billion by 2028, market research firm 1Lattice estimates.

RedTape's founding family, the Mirzas, have appointed global consultancy Ernst & Young as the exclusive financial adviser for "divestment of their stake", a document dating from December detailing the planned transaction shows.

EY has reached out to private equity firms Blackstone and KKR to explore potential offers for the family's stake, said two of the three sources.

It is seeking non-binding indicative offers, added one of the three sources, who all sought anonymity, as the process is confidential.

RedTape's Managing Director Shuja Mirza and his father, the company's chairman, Rashid Ahmed Mirza, did not respond to a request for comment from Reuters.

EY and KKR declined to comment. Blackstone did not respond to Reuters queries.

POPULAR FOR LEATHER SHOES, SNEAKERS

Family-run Indian companies are luring foreign investors for their strong grip on domestic markets.

Singapore's state investor Temasek acquired a 10% stake in the snacks business of India's Haldiram's last year, valuing the company at about $10 billion.

While two of the sources said the Mirzas are eyeing the sale of at least a majority stake, they added they could consider selling the entire stake of 71.8% if they secure a good deal.

The third source said the family was keen only on the sale of the full stake.

At Monday's closing price, a stake of 50% of the company would be worth $355.58 million, while the entire 71.7% would be worth $509.42 million.

It was not immediately clear why the Mirzas were seeking to sell their stake. RedTape shares have been under pressure since early 2025 and lost 43% last year.

Popular for its leather shoes, RedTape has also diversified into sneakers, shirts, wallets and belts.

It sells items in more than 600 Indian retail stores and has a presence in 14 countries, from Australia to Britain and the United States, Australia, as well as in Europe and West Asia, the company says on its website.

RedTape earned revenue of $223.91 million in the fiscal year 2024/25, up 9.7% from a year earlier, though profit fell 3.5% to $18.84 million.

(Reporting by Vibhuti Sharma in Mumbai and Aditya Kalra in New Delhi; Additional reporting by Additional reporting by Bharath Rajeswaran; Editing by Clarence Fernandez and Alexander Smith)

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Dec 26 (Reuters) - RedTape REDT.NS:

• REDTAPE - APPROVES INTERIM DIVIDEND OF 2 RUPEES PER SHARE

• REDTAPE - PROPOSES BONUS ISSUE IN RATIO OF 3:1

Source text: ID:nBSE9MsPJQ

Further company coverage: REDT.NS

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** Shares of RedTape Ltd REDT.NS rise as much as 6.8% to 914.40 rupees

** Apparel and footwear maker says it will consider a proposal for the issue of bonus shares at the board meeting on Dec. 26

** More than 105,000 shares traded as of 12:16 p.m. IST, vs their 30-day moving avg of 77,934 shares

** REDT last up 1.4%, adding to YTD gains of 84.7%

(Reporting by Meenakshi Maidas in Bengaluru)

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Aug 14 (Reuters) - RedTape REDT.NS:

• REDTAPE JUNE-QUARTER CONSOL PROFIT 306.4 MILLION RUPEES

• REDTAPE JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 4.42 BILLION RUPEES

Source text for Eikon: ID:nBSE1Bqn80

Further company coverage: REDT.NS

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June 12 (Reuters) - RedTape REDT.NS:

• COMMENCED OPERATIONAL ACTIVITY FROM IT'S WAREHOUSE AT HOWRAH, WEST BENGAL

Further company coverage: REDT.NS

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April 22 (Reuters) - RedTape REDT.NS:

• COMMENCEMENT OF ONLINE OPERATIONAL ACTIVITY FROM IT'S NEW WAREHOUSE AT BHIWANDI

Source text for Eikon: ID:nBSEcdsqrQ

Further company coverage: REDT.NS

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Jan 24 (Reuters) - RedTape REDT.NS:

• DEC-QUARTER CONSOL PROFIT 608.2 MILLION RUPEES VERSUS 533 MILLION RUPEES

• DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 6.18 BILLION RUPEES VERSUS 4.78 BILLION RUPEES

Further company coverage: REDT.NS

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** Shares of footwear retailer RedTape Ltd REDT.NS up ~2% at 469 rupees

** Co ties up with Indian govt's open e-commerce network ONDC

** Stock on track to gain after two straight days and four weeks of losses

** More than 338,000 shares traded so far this week, slowest trading week in Dec. yet

** REDT now up nearly 5% since listing in August this year

(Reporting by Meenakshi Maidas in Bengaluru)

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Dec 28 (Reuters) - RedTape REDT.NS:

• ENTERED INTO STRATEGIC TIE-UP WITH ONDC FOR MARKETING ITS PRODUCTS

Source text for Eikon: [ID:]

Further company coverage: REDT.NS

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Dec 14 (Reuters) - RedTape REDT.NS:

• REDTAPE - COMMENCEMENT OF OPERATIONAL ACTIVITY FROM IT'S NEWLY CONSTRUCTED WAREHOUSE AT UNNAO

• REDTAPE - WAREHOUSE HAVE STORAGE AREA OF 600,000 SQUARE FEET

Source text for Eikon: ID:nBSE1GpJ8p

Further company coverage: REDT.NS

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