Alteration in Memorandum of Association of the Company
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Avax Apparels and Ornaments Ltd has received shareholder approval to sub-divide (split) its equity shares from a face value of ₹10 each to ₹5 each, effectively a 1:2 stock split. The change was approved at the 3rd Extra-Ordinary General Meeting held on March 13, 2026, via video conferencing. The authorised share capital remains unchanged at ₹5 crore, but the number of authorised equity shares has doubled from 50 lakh to 1 crore. The alteration to Clause V (Capital Clause) of the Memorandum of Association was disclosed under SEBI Listing Regulations.
Existing shareholders will see their share count double while the share price is expected to adjust proportionally, making the stock more affordable and potentially improving liquidity. The underlying value of holdings remains unchanged immediately after the split.