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

PPAP Automotive Limited is merging its wholly-owned subsidiary, Avinya Batteries Limited, in a move to streamline operations and boost efficiency. The objective is to achieve synergies, reduce costs, and centralize fund management for future growth. As Avinya Batteries is already fully owned by PPAP Automotive, no new shares will be issued, ensuring no dilution for existing PPAP shareholders. There is no share swap ratio involved. The merger plan requires further approvals, with unsecured creditors of PPAP Automotive scheduled to meet on September 30, 2026, to vote on the scheme. This strategic consolidation aims to strengthen PPAP's overall business and financial structure.