Avi Products India Ltd — Important, 01-01-1970: Company Update

PPMS Real Estates LLP has launched an open offer to acquire up to 26% of AVI Products India Limited at ₹33.00 per share, valuing the offer at approximately 2.84 Cr. This move follows PPMS acquiring substantial stakes from both promoter and non-promoter groups, triggering a change in control. PPMS aims to become AVI's new promoter and plans to diversify the company into the real estate sector, subject to shareholder approval. Post-offer, PPMS will hold approximately 88.68% of AVI, necessitating future actions to meet public shareholding norms. AVI's independent directors will release their guidance on this offer. For the recent half-year, AVI posted a loss of 0.95 Cr.