Disclosure of Report under Regulation 10(7) of SEBI (SAST) Regulation 2011
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Awaiting price reaction for this filing.
Avax Apparels and Ornaments Ltd has filed a report under SEBI's takeover regulations regarding a promoter group reshuffle. Promoter Harish Kumar (brother) transferred 2,18,084 equity shares (20.99%) and Deepika (sister-in-law) transferred 1,03,990 shares (10.01%) to Deepak Kumar as a gift without any consideration on December 8, 2025. In total, Deepak Kumar received 3,22,074 shares (30.99% of the company) through off-market inter-se transfer within the promoter family. As a result, Deepak Kumar's holding jumped from zero to 30.99%, while Harish Kumar and Deepika fully exited their shareholding. The transaction qualifies for exemption under Regulation 10(1)(a)(i) of the SEBI SAST Regulations, meaning no open offer to public shareholders is triggered. A fee of Rs 1,77,000 was paid to SEBI for the filing.
This is a pure internal reshuffle within the promoter family - no money changed hands and no new outside shareholders entered. Total promoter group holding remains unchanged at the same level, so public investors face no dilution or change in ownership pattern. Stock price impact should be neutral since there is no change in promoter control or voting power.