PPAP Automotive Sells 50% Stake in Joint Venture Company PPAP Tokai India Rubber to Tokai Kogyo Co. Ltd for Rs. 100 Crores

PPAP Automotive Ltd has entered into a settlement agreement with Tokai Kogyo Co. Ltd and PPAP Tokai India Rubber Private Limited for the sale of its entire 50% stake in PPAP Tokai India Rubber to Tokai Kogyo Co. Ltd. The joint venture company between PPAP and Tokai will cease to exist upon execution of the settlement agreement. The sale is expected to be completed by February 28, 2026, with PPAP receiving Rs. 100 Crores as consideration. Tokai Kogyo Co. Ltd, the buyer, does not belong to the promoter group.