PPAP Automotive is merging with its wholly-owned subsidiary, Avinya Batteries, integrating the latter's Li-Ion battery solutions into its automotive components business.

This strategic move aims to enhance PPAP's capabilities, especially in the EV sector, and streamline operations.

The NCLT has approved the initial application, directing PPAP to convene meetings for its shareholders and creditors, and Avinya's creditors, as the next steps.

As Avinya is a wholly-owned subsidiary, no external shareholder dilution is expected for PPAP investors from this amalgamation.