AVI Products: PPMS Real Estates acquires 23.68%, launches 26% open offer

Avi Products India Ltd's board approved a change in management and control. PPMS Real Estates LLP acquired 23.68% of the company's equity shares (7,83,091 shares) from existing promoters at ₹33 per share, totaling ₹2.58 crore. This acquisition includes management rights and control. Concurrently, PPMS Real Estates LLP launched an open offer to acquire an additional 26% (8,59,769 shares) from public shareholders at the same price. The existing promoters will cease to be promoters. The open offer is pending SEBI approval.