AVI Products India Limited has fixed September 17, 2026, as the cut-off date for remote e-voting for its 37th Annual General Meeting. This determines shareholder eligibility for casting electronic votes on the agenda items.

The company approved the notice for the 37th AGM and the Annual Report for FY26 during its board meeting on August 24, 2026. The Board of Directors convened at 11:30 am and concluded at 1:00 pm to finalize corporate governance matters for the financial year ended March 31, 2026. Key approvals included the Directors' Report and the Management Discussion and Analysis Report (MDAR).

Meeting Logistics

The 37th AGM is scheduled for September 24, 2026, at 12:15 pm. The meeting will be conducted through Video Conferencing (VC) and Other Audio Visual Means (OAVM), in compliance with Ministry of Corporate Affairs circulars.

Voting and Record Dates

Shareholders can participate in remote e-voting from September 21, 2026, at 9:00 am until September 23, 2026, at 5:00 pm. Aparna Tripathi & Associates has been appointed as the scrutinizer for the e-voting process.

To determine eligibility for the AGM, the Register of Members and Share Transfer Book will remain closed from September 18, 2026, to September 24, 2026, inclusive. This closure aligns with Section 91 of the Companies Act, 2013, and Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

AVI Products India Limited shareholders will have the opportunity to participate in a mandatory open offer commencing April 16, 2026. PPMS Real Estates LLP has announced its intention to acquire up to 8,59,769 equity shares representing 26.00% of the company's voting share capital at ₹33.00 per share.

Transaction Overview

The open offer stems from PPMS Real Estates LLP's acquisition of controlling stake in AVI Products India Limited through two separate agreements executed on February 14, 2026. The acquirer has secured agreements to purchase shares from both promoter and non-promoter sellers, triggering mandatory open offer obligations under SEBI (SAST) Regulations.

Underlying Acquisitions

PPMS Real Estates LLP has entered into comprehensive agreements to acquire shares from existing stakeholders. Under the Share Purchase Agreement, the acquirer will purchase 7,83,091 equity shares representing 23.68% of voting share capital from four promoter sellers at ₹33.00 per share. Additionally, through Share Sale/Purchase Confirmations, PPMS will acquire 4,69,710 shares representing 14.20% from three non-promoter sellers at negotiated prices ranging from ₹29.00 to ₹32.50 per share.

Financial Arrangements

The acquirer has demonstrated firm financial commitment by depositing the full consideration amount of ₹2,83,72,377 in an escrow account with Yes Bank Limited. This represents 100% of the maximum consideration payable under the open offer, ensuring adequate resources for settlement. The financial arrangements have been certified by chartered accountant CA Bhavesh Naresh Bhadricha, confirming PPMS Real Estates LLP's ability to fulfill all obligations.

Offer Price Justification

The offer price of ₹33.00 per share has been determined in accordance with SEBI (SAST) Regulations, considering multiple valuation parameters. The price represents the negotiated amount under the Share Purchase Agreement and aligns with the volume-weighted average market price of ₹32.30 for the 60 trading days preceding the public announcement. The offer price also exceeds the highest price of ₹30.00 paid by the acquirer during the 26 weeks prior to the announcement.

Company Profile and Performance

AVI Products India Limited, incorporated in 1989, operates in the dental goods and products trading business. The company maintains its registered office at Vasai (East), Maharashtra, and trades on BSE Limited under scrip code 523896. As of the latest financial results for the half-year ended September 30, 2025, the company reported revenue from operations of ₹77.21 lakhs, though it recorded a loss of ₹94.98 lakhs during the period.

Shareholding Structure Changes

Upon completion of the underlying transactions and open offer, significant changes will occur in AVI Products India Limited's shareholding pattern. PPMS Real Estates LLP, currently holding 24.79% stake, will increase its holding to 88.68% assuming full acceptance of the offer. The existing promoters will exit completely, transferring control to the acquirer and being reclassified as public shareholders in accordance with SEBI regulations.

Regulatory Compliance and Timeline

The open offer follows a structured timeline mandated by SEBI (SAST) Regulations. The public announcement was made on February 14, 2026, followed by the detailed public statement on February 23, 2026. The draft letter of offer was filed with SEBI on March 02, 2026, with the identified date set for March 30, 2026. Settlement of accepted shares and payment of consideration will be completed by May 14, 2026, ensuring compliance with regulatory timelines.