RedTape Founders Seek Blackstone and KKR Interest in Potential Stake Sale

The founding family of Indian footwear firm RedTape is exploring the sale of a majority or potentially full stake in the company, with private equity interest solicited from Blackstone and KKR. RedTape has appointed Ernst & Young as exclusive adviser for the divestment and is seeking non-binding indicative offers. A 50% stake would be valued at approximately $356 million, while the full 71.8% holding is worth around $509 million. The company operates over 600 retail outlets in India and maintains a presence in 14 international markets, with revenues of $224m in FY 2024/25.