Notice of 03rd Extra-Ordinary General Meeting of the Company
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Avax Apparels and Ornaments Limited has called its 3rd EGM on Friday, March 13, 2026 at 03:30 PM via video conferencing. The meeting will consider four key items: (1) Sub-division of equity shares from face value ₹10 to ₹5, making each existing share split into 2 shares; (2) Issuance of bonus shares in a 3:1 ratio (3 bonus shares for every 1 held), capitalizing up to ₹311.75 Lakhs from free reserves and securities premium; (3) Redesignation of Mr. Harinderpal Singh Sodhi (DIN: 09283654) as Joint Managing Director for 5 years with remuneration up to ₹30 Lakhs per annum; and (4) Redesignation of Mr. Deepak Kumar (DIN: 08267845) as Joint Managing Director on similar terms. The remote e-voting window is March 10-12, 2026, with the cut-off date set as March 6, 2026.
If approved, shareholders will receive 6 shares for every 1 held (2 from split + 3 bonus + 1 original equivalent), effectively increasing their shareholding without new investment, though the per-share price is expected to adjust proportionally. The stock split and bonus may improve liquidity and trading appeal for retail investors. The redesignation of two directors as Joint Managing Directors signals management restructuring, which investors should monitor for execution and governance implications.