Merger11 May 2026, 09:31 pm
PPAP Automotive: Avinya Batteries Merger & Tooling Business Sale
AI Summary
PPAP Automotive Ltd's board approved the merger of Avinya Batteries with PPAP Automotive and the slump sale of its Tooling business to Meraki Precision Tool Engineering Limited on May 11, 2026. The board also approved audited financial results for the year ended March 31, 2026, and recommended a final dividend of ₹1.5 per share. Additionally, Mr. Ajay Kumar Jain was re-appointed as Chairman and Managing Director for three years, subject to shareholder approval.
Key Highlights
- Avinya Batteries to merge with PPAP Automotive Limited.
- Tooling business sold to Meraki Precision Tool Engineering Limited via slump sale.
- Final dividend of ₹1.5 per share recommended for FY26.
- Ajay Kumar Jain re-appointed as Chairman and Managing Director.