Mark Corporate Advisors Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Draft Letter of Offer for the attention of the Public Shareholders of Avi Products India Ltd ("Target Company").
Awaiting price reaction for this filing.
PPMS Real Estates LLP is making a mandatory open offer to acquire up to 8,59,769 equity shares (26% of voting share capital) of Avi Products India Ltd from public shareholders at ₹33.00 per share, totaling about ₹2.84 crore in cash. This follows a Share Purchase Agreement dated February 14, 2026 under which PPMS will also directly buy 7,83,091 shares (23.68%) from the existing Vora family promoters and 4,69,710 shares (14.20%) from three non-promoter sellers at prices between ₹29 and ₹33, giving it a combined 37.88% stake. The acquirer's stated objective is to take management control and become the new promoter of the listed company, with a possible future diversification into the real estate sector. The tendering window for public shareholders will run from April 16, 2026 to April 29, 2026, and there is no intention to delist the stock.
Public shareholders have a cash exit opportunity at ₹33/share during the tendering period. The promoter Vora family is completely exiting, leading to a change of control, and the stock price may trade closer to the offer price as the tendering date approaches.