Disclosure under Regulation 7(2) and (2) of SEBI PIT Regulation, 2015
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Awaiting price reaction for this filing.
Avax Apparels and Ornaments disclosed Form C filings under SEBI Insider Trading Regulations for three insiders. Promoter Harish Kumar transferred 2,18,084 shares (20.99% of his holding) via gift, and Whole-Time Director Deepika Garg transferred 1,03,990 shares (10.01% of her holding) via gift. Both gifts were received by Whole-Time Director Deepak Kumar, who acquired 3,22,074 shares (30.99%) as a result. Total deal value is approximately Rs. 24.24 crore based on the Rs. 221.15 closing price. All transfers were carried out off-market as inter-se transfers within the promoter group, exempt from open offer requirements under Regulation 10(1)(a)(i) of the Takeover Regulations.
No change in consolidated promoter group holding — only reshuffling of shares among family members/insiders via gift. Shareholders should note the change in individual shareholding pattern, but this is unlikely to impact stock price since no market trade occurred.