PPAP Automotive is merging with its wholly-owned subsidiary, Avinya Batteries.

This strategic move aims to achieve operational and financial synergies, reduce costs, and boost management efficiency.

As Avinya Batteries is 100% owned, no new shares will be issued by PPAP Automotive, ensuring no dilution for its existing shareholders.

The Scheme of Amalgamation requires shareholder approval, with a meeting scheduled for September 30, 2026. E-voting will be available from September 26-29, 2026. This consolidation is geared towards better resource utilization and future growth.