Statement of Deviation or Variation of Fund

Avax Apparels filed a routine compliance statement confirming full utilization of its IPO proceeds of Rs. 191.80 Lakhs raised on January 10, 2025. Funds were deployed across three categories: Rs. 150 Lakhs for Working Capital, Rs. 21.80 Lakhs for General Corporate Purposes, and Rs. 20 Lakhs for Issue Expenses. The company states all proceeds were fully utilized up to September 30, 2025, with no deviation or variation from the objects stated in the prospectus. The statement was reviewed by the Audit Committee and taken on record by the Board on May 25, 2026. A statutory auditor's annual confirmation (Annexure-B) is also enclosed, verifying no deviations occurred.