We hereby inform you that the board of directors of AVI Products India Ltd ('Company') at their director's board meeting held today i.e. Thursday April 23, 2026, has inter alia, considered ....
Awaiting price reaction for this filing.
PPMS Real Estates LLP has taken control of AVI Products India Ltd through promoter share purchase (23.68% for Rs. 2.58 crore at Rs. 33/share) and non-promoter share acquisitions (14.20% from 3 entities). Total acquisition so far is 37.88%. An open offer for additional 26% at Rs. 33/share is in progress. Entire board has been reconstituted with 3 executive directors (Parthh K Mehta as Chairman, Ameya Tandulkar, Bankim Mehta), 3 independent directors, new CFO and Company Secretary. Four existing directors including CFO and CS resigned. The company plans to shift registered office from Thane to Mumbai and alter its Main Objects to enter real estate development business. A postal ballot seeks shareholder approval for these changes.
This is a complete change of control at Rs. 33/share. The stock may see volatility as the open offer for 26% continues. The shift from chemical/photo products to real estate business represents a fundamental transformation of the company's operations and outlook.