The Exchange has received the disclosure under Regulation 10(6) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Deepak Kumar
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Avax Apparels and Ornaments Ltd filed a disclosure under SEBI SAST Regulation 10(6) regarding an off-market inter-se transfer of 3,22,074 equity shares (30.99% of total share capital) among promoter group members. The shares were transferred by way of gift from Harish Kumar (2,18,074 shares, 20.99%) and Deepika Garg (1,03,990 shares, 10.01%) to Deepak Kumar/Garg, who went from holding nil shares to 30.99% post-transaction. No monetary consideration was involved as it was a gift deed-based transfer. The transaction qualifies for exemption under Regulation 10(1)(a)(i), meaning no open offer obligation arises. The aggregate promoter and promoter group shareholding of the company remains unchanged — this is purely a reshuffle of stakes within the promoter family.
No material impact on the stock or non-promoter shareholders, as the total promoter group holding stays the same and no cash transaction occurred. Existing shareholders are unaffected; this is a private internal restructuring among promoter family members.