Attached
Awaiting price reaction for this filing.
Avi Products India Ltd has undergone a complete change of control and management effective April 23, 2026. The new promoter group, PPMS Real Estates LLP (represented by business partners Mr. Parthh K Mehta and Mr. Ameya Tandulkar), has taken over the company. A new board has been appointed including 3 executive directors (Parthh Mehta as Chairman, Ameya Tandulkar, and Bankim Mehta who is Parthh's uncle) and 3 independent directors (Ms. Malvika Jagani, Mr. Dayashankar Patel, and Mr. Aditya Soni). The entire previous board of 4 independent directors (Daksha Vora, Abhishek Vora, Manas Palo, Saroj Choudhury) and both KMPs (CFO Ms. Hemali Patel and Company Secretary Ms. Shreyana Koyande) have resigned citing change of control. New KMPs appointed are Mr. Nikunj Gandhi as CFO and Ms. Renu Choudhary as Company Secretary. Both secretarial and internal auditors have been changed.
This is a major governance event indicating complete takeover by a new promoter group. The simultaneous resignation of all independent directors and key management personnel suggests a clean sweep. Shareholders should monitor for any open offer obligations and future business direction changes from the new management.