PPAP Automotive to hold secured creditors meeting for Avinya Batteries amalgamation on Sep 30
PPAP Automotive Limited will hold a secured creditors' meeting on September 30, 2026, to vote on the amalgamation scheme with Avinya Batteries Limited. Remote e-voting will be open from September 26-29, 2026. The cut-off date for voting rights is March 31, 2026.
The amalgamation of Avinya Batteries with PPAP Automotive could lead to significant operational synergies and market expansion, impacting the company's future financial performance and strategic direction. Therefore, the impact is assessed as medium.
The announcement is a procedural update regarding a proposed amalgamation and does not contain information that inherently boosts or diminishes the company's value. It's a neutral corporate action.
PPAP Automotive Limited has announced that a meeting of its secured creditors will be held on September 30, 2026, at 12:30 PM IST. The meeting will be conducted through Video Conferencing (VC) and Other Audio-Visual Means (OAVM) as per the order dated July 29, 2026, from the National Company Law Tribunal (NCLT), New Delhi Bench.
The purpose of this meeting is to consider and approve, with or without modifications, the Scheme of Amalgamation of Avinya Batteries Limited (Transferor Company) with PPAP Automotive Limited (Transferee Company) and their respective shareholders.
Voting rights for the secured creditors will be proportional to the outstanding amount as of the cut-off date, March 31, 2026. The remote e-voting facility will be available from September 26, 2026 (9:00 am IST) to September 29, 2026 (5:00 pm IST). The detailed notice of the meeting, including instructions for e-voting and attending via VC/OAVM, has been dispatched to secured creditors and is also available on the company's website.
Avinya Batteries Limited, incorporated in 2015, is involved in manufacturing Li-Ion based battery pack solutions for two and three-wheeler industries, energy storage systems, and industrial power solutions. PPAP Automotive Limited, incorporated in 1995, manufactures sealing systems, and interior and exterior injection-molded products for the automotive industry. The amalgamation aims to combine these businesses.
A plain-language summary of a public exchange filing by PPAP Automotive Limited. Read the original for the full detail.