The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for PPMS Real Estates LLP
Awaiting price reaction for this filing.
PPMS Real Estates LLP has completed acquisition of 11,48,121 equity shares (34.72%) in AVI Products India Ltd. The acquisition was done via a Share Purchase Agreement dated February 14, 2026, acquiring 7,83,091 shares (23.68%) from Promoter Sellers and 3,65,030 shares (11.04%) from Non-Promoter Sellers. An Open Offer has been triggered for up to 8,59,769 shares (26%) at Rs. 33 per share, totaling Rs. 283.72 Lakhs. The acquirer deposited 100% consideration in a Cash Escrow Account and completed the acquisition on April 10, 2026. After this acquisition, PPMS Real Estates LLP holds 34.72% of the voting capital, making it a proposed promoter/acquirer.
This is a significant change in control as PPMS Real Estates LLP becomes a major shareholder with 34.72% stake. The mandatory open offer for 26% more shares indicates a potential full takeover attempt, which could be positive for minority shareholders if the offer price is attractive.