PPAP Automotive Limited — JV/Acquisition, 29-08-2026: Amalgamation/Merger

PPAP Automotive Ltd. is set to merge with its wholly-owned subsidiary, Avinya Batteries Ltd., with an Appointed Date of April 1, 2026. This strategic move aims to boost operational and financial synergies, cut costs, and centralize fund management for improved profitability.

Since Avinya is a fully-owned entity, PPAP will not issue new shares, ensuring no dilution for existing PPAP shareholders. Shareholder impact is positive due to consolidation benefits. Approval from PPAP's secured creditors, who had ~128.45 Cr due as of March 31, 2026, will be sought at a meeting on September 30, 2026.