Output of the Board Meeting
Price
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The board of Avax Apparels and Ornaments Ltd, meeting on February 17, 2026, approved a sub-division of equity shares from a face value of ₹10 to ₹5, turning every 1 share into 2. It also approved a bonus issue in the ratio of 3:1, meaning 3 bonus shares of ₹5 each for every 1 share held, with 62,34,948 bonus shares to be issued. The bonus will be funded from free reserves and share premium, requiring ₹311.75 lakhs against available ₹557.03 lakhs as of March 31, 2025. Both actions are subject to shareholder approval and expected to complete within two months. The board also redesignated Mr. Harinderpal Singh Sodhi and Mr. Deepak Kumar as Joint Managing Directors for a 5-year term ending February 16, 2031. Record dates for the split and bonus will be announced later.
Combined, the stock split and 3:1 bonus will turn every 1 existing share into 8 shares, expanding the share count from about 20.78 lakh to 83.13 lakh and reducing the per-share price proportionally, which should improve liquidity and retail participation. The management changes bring continuity at the top, with no outsider appointments, and are unlikely to alter the near-term operating direction.