Disclosure of inter-se transfer of shares among the Promoter and Promoter Group pursuant to Regulation 10(5) of SEBI SAST Regulation
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Avax Apparels and Ornaments Ltd has informed BSE about a proposed inter-se transfer of shares within the promoter group by way of gift. Promoter Harish Kumar will transfer 2,18,084 shares (20.99%) and Deepika (an immediate relative) will transfer 1,03,990 shares (10.01%) to Deepak Kumar, who is an immediate relative of Harish Kumar and a director of the company. In total, Deepak Kumar will acquire 3,22,074 equity shares, which is 30.99% of the company's paid-up share capital, taking his holding from nil to 30.99%. The transfer is without any consideration, executed through a Gift Deed as an off-market transaction. It falls under the exemption provided by Regulation 10(1)(a)(i) of SEBI SAST Regulations and is expected to be completed on or after 7th December 2025.
This is a purely internal family restructuring within the promoter group, with no change in the total promoter group holding or any shares traded in the market. Investors should not expect any material impact on the stock price or ownership structure beyond a reshuffle among family members.