The Exchange has received the disclosure under Regulation 29(1) & 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Deepak Kumar
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Promoter group member Deepak Kumar acquired 3,22,074 equity shares (30.99% of total share capital) of Avax Apparels and Ornaments Ltd from fellow promoters Harish Kumar (2,18,084 shares, 20.99%) and Deepika (1,03,990 shares, 10.01%) on December 8, 2025. The transfer was made by way of a gift without any consideration, as an off-market inter-se transfer between promoter and promoter group members. The transaction is exempt under Regulation 10(1)(a)(i) of SEBI SAST Regulations, 2011. Post-transaction, Deepak Kumar holds 30.99% of the company, while the total equity capital remains unchanged at 10,39,158 shares.
This is an internal reshuffling of promoter holdings with no change in overall promoter control or company cash flows, so it should be neutral for shareholders. Since shares were transferred as a gift without consideration, there is no market signal of bullish or bearish sentiment.