Disclosure of inter-se transfer of shares among promoter and promoter group pursuant to SEBI SAST Regulation, 2011
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Awaiting price reaction for this filing.
Avax Apparels informed BSE about an off-market inter-se transfer of 3,22,074 equity shares (30.99% of total share capital) within its promoter and promoter group on December 8, 2025. Harish Kumar (promoter) gifted 2,18,084 shares (20.99%) and Deepika (promoter group) gifted 1,03,990 shares (10.01%) to Deepak Kumar (promoter) with no consideration involved. Following the transfer, Deepak Kumar's holding rose from nil to 30.99%, while the sellers' holdings dropped to nil. The transaction is exempt from open-offer requirements under Regulation 10(1)(a)(i) of SEBI SAST Regulations. The aggregate promoter group holding remains unchanged — only the internal distribution has shifted.
No impact on stock price or total promoter shareholding, since it is a family-level reshuffle by way of gift (zero consideration). Retail investors should note that Deepak Kumar has emerged as a major individual shareholder within the promoter group holding nearly one-third of the company.