Appoinment of Ms. Renu Choudhary as Company Secretary and compliance officer w.e.f. April 23, 2026.
Awaiting price reaction for this filing.
Avi Products India Ltd has undergone a complete change of control and management effective April 23, 2026. The entire board has been reconstituted with 6 new directors joining (3 executive/non-independent and 3 independent directors) and 4 existing directors resigning. Key management personnel changes include CFO Ms. Hemali Pankaj Patel resignation and appointment of Mr. Nikunj Gandhi as new CFO, plus Ms. Shreyana Koyande resignation as Company Secretary and appointment of Ms. Renu Choudhary in her place. The new promoters are PPMS Real Estates LLP, represented by Mr. Parthh K Mehta (Chairman), Mr. Ameya Tandulkar (business partners), and Mr. Bankim Mehta (uncle of Parthh). Internal and secretarial auditors have also been replaced. The company plans to shift its registered office from Thane to Mumbai pending shareholder approvals.
This is a significant change of control event with nearly the entire board and KMPs being replaced. The incoming promoters are from real estate backgrounds, suggesting a possible change in business direction. Existing shareholders should monitor for any open offer obligations under SEBI takeover regulations and any material change in business strategy.