Joint Venture13 Feb 2026, 04:32 pm
PPAP Automotive Ltd. Divests Entire Stake in Joint Venture Company, PPAP Tokai India Rubber Private Limited, for Rs. 100 Crores
AI Summary
PPAP Automotive Ltd. has sold its entire 50% stake in PPAP Tokai India Rubber Private Limited (PTI), a Joint Venture Company, to Tokai Kogyo Co. Ltd. for a cash consideration of Rs. 100 Crores. The transaction was completed on 13th February 2026, following which PTI ceased to be a joint venture of PPAP and Tokai. The Board of Directors of PPAP had approved the unaudited financial results for the quarter and nine months ended 31st December 2025, along with the limited review report, in their meeting held on 13th February 2026.
Key Highlights
- PPAP Automotive Ltd. divests its entire 50% stake in PPAP Tokai India Rubber Private Limited (PTI) to Tokai Kogyo Co. Ltd.
- The transaction was completed on 13th February 2026, and PTI ceased to be a joint venture of PPAP and Tokai post completion.
- The sale consideration is Rs. 100 Crores.
- The decision was approved in the Board Meeting held on 13th February 2026.
- The Board also approved the unaudited financial results for the quarter and nine months ended 31st December 2025.