Joint Venture13 Feb 2026, 04:42 pm
PPAP Automotive Ltd Sells Entire Stake in PPAP Tokai India Rubber to Tokai Kogyo Co. Ltd
AI Summary
PPAP Automotive Limited has sold its entire 50% shareholding in PPAP Tokai India Rubber Private Limited to Tokai Kogyo Co. Ltd. on 13th February 2026. The sale was completed on the same day for a cash consideration. PPAP has ceased to be a joint venture of the Company post completion of the transaction.
Key Highlights
- PPAP Automotive Limited sold its entire 50% shareholding in PPAP Tokai India Rubber Private Limited to Tokai Kogyo Co. Ltd.
- The transaction was completed on 13th February 2026 for a cash consideration.
- PPAP ceased to be a joint venture of the Company post completion of the transaction.
- The sale was made in accordance with the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
- The decision was approved in a Board meeting held on 13th February 2026.