Mark Corporate Advisors Publishes Detailed Statement for PPMS Real Estates' Open Offer to AVI Products India

Mark Corporate Advisors Private Limited has submitted the Detailed Public Statement (DPS) for PPMS Real Estates LLP's open offer to acquire a substantial stake in AVI Products India Limited, a significant move in the dental products trading sector.

PPMS Real Estates LLP (the Acquirer) is making an open offer to acquire up to 8,59,769 fully paid-up equity shares, each with a face value of ₹10.00, representing 26.00% of the voting share capital of AVI Products India Limited. The offer price has been set at ₹33.00 per equity share, aggregating to a total consideration of ₹2,83,72,377.

The DPS was published on February 23, 2026, in compliance with SEBI (SAST) Regulations, 2011. Mark Corporate Advisors confirmed the publication across multiple newspapers to ensure wide dissemination among public shareholders, including Business Standard (English and Hindi editions) and Navshakti (Marathi, Mumbai edition).

The open offer follows PPMS's execution of comprehensive share purchase agreements on February 14, 2026. The acquirer entered into a Share Purchase Agreement (SPA) with promoter sellers to acquire 7,83,091 equity shares representing 23.68% of the voting share capital at ₹33.00 per share, totaling ₹2,58,42,003.00. Additionally, PPMS executed a Share Sale/Purchase Confirmation (SSPC) with three non-promoter sellers to acquire 4,69,710 equity shares representing 14.20% of the voting share capital in the price range of ₹29.00-₹32.50 per share, aggregating to ₹1,41,25,500.00.

In accordance with Regulation 17 of SEBI (SAST) Regulations, 2011, PPMS has established robust financial arrangements for the open offer. The acquirer opened a cash escrow account titled 'AVI Products India Limited-Open Offer-Escrow Account' with Yes Bank Limited and deposited ₹71,00,000, representing more than 25% of the maximum consideration required. The adequacy of financial resources has been certified by Mr. Bhavesh Naresh Bhadricha, Chartered Accountant, confirming that PPMS has adequate financial resources and firm financial arrangements to complete the open offer in full.

AVI Products India Limited, incorporated in 1989, operates in the dental goods and dental products trading business. The company is listed on BSE Limited with scrip code 'APIL' and ISIN INE316O01021. The company's registered office is located at 110, Manish Industrial Estate No. 4, Navghar Road, Vasai (East), District Palghar-401210, Maharashtra.

Financially, AVI Products India Limited has shown mixed performance over the years. As of September 30, 2025, the company reported a total revenue of ₹83.82 lakhs and a net loss of ₹94.88 lakhs. The net worth stood at ₹614.62 lakhs, with an earnings per share (EPS) of -2.87. The company's shares are frequently traded on BSE, with an annualized trading turnover of 35.35% during the twelve calendar months preceding the public announcement, based on 11,69,004 shares traded against total equity shares of 33,06,802.

The offer price of ₹33.00 per share has been justified under Regulation 8(2) of SEBI (SAST) Regulations, 2011, based on multiple valuation parameters. The volume-weighted average market price for 60 trading days preceding the public announcement was ₹32.30, while the negotiated price under the share purchase agreement was ₹33.00. The equity shares of AVI Products India Limited are frequently traded on BSE, with an annualized trading turnover of 35.35% during the twelve calendar months preceding the public announcement, based on 11,69,004 shares traded against total equity shares of 33,06,802.

The tentative schedule indicates the identified date as March 30, 2026, with the letter of offer to be dispatched by April 08, 2026. The tendering period is scheduled to commence on April 16, 2026, and close on April 29, 2026, with final settlement by May 14, 2026. Mark Corporate Advisors Private Limited serves as the Manager to the Open Offer, while Bigshare Services Private Limited has been appointed as the Registrar to the Offer. The open offer will be implemented through BSE's acquisition window facility as the designated stock exchange.