RedTape's founding Mirza family is reportedly exploring the sale of a majority or entire stake in the Indian footwear company, valued at approximately $510 million. They have appointed Ernst & Young as their financial advisor and have approached private equity firms Blackstone and KKR for potential offers. The company, established in 1996, competes with major global and domestic brands in a growing market projected to reach $21 billion by 2028. The process is currently seeking non-binding indicative offers.