Mark Corporate Advisors Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of 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 has launched a mandatory open offer to public shareholders of AVI Products India Limited to acquire up to 8,59,769 equity shares (26% of voting capital) at ₹33 per share in cash. This offer was triggered after the Acquirer signed a Share Purchase Agreement on February 14, 2026 to purchase 7,83,091 promoter shares (23.68%) and separate Share Sale/Purchase Confirmations for 4,69,710 non-promoter shares (14.20%) from entities including Rajen H Gada HUF, Mr. Saroj Kumar Choudhury, and Balaji Forex. The offer opens on May 13, 2026 and closes on May 26, 2026. All four existing promoters (Avinash Vora, Parth Vora, Vikram Vora, and Daksha Vora) are selling their entire stakes and exiting the company. The Acquirer plans to diversify operations into real estate.
This represents a complete change of control at AVI Products India as the Acquirer will acquire nearly 38% stake through underlying transactions plus 26% through the open offer. Shareholders accepting the offer will receive ₹33 per share in cash; however, the company plans to expand into real estate, which may alter its core dental/photochemical products business.