PNN
New Delhi [India], February 18: Avax Apparels And Ornaments Limited hereby informs that its Board of Directors, in its meeting held on Tuesday, February 17, 2026, has approved, subject to shareholder and regulatory approvals, a proposal for a stock split and issuance of bonus equity shares.
The proposed stock split and bonus issue are intended to enhance liquidity in the Company's equity shares, improve their affordability, and broaden the investor base, particularly retail participation. These actions are aligned with the Company's long-term objective of creating sustained shareholder value and improving market participation without impacting the overall value of shareholders investments.
The Board has approved the following terms: existing face value of equity shares at ₹10 per share, revised face value post stock split at ₹5 per share, a stock split ratio of 1:1, and a bonus issue ratio of 3:1 (three bonus equity shares for every one equity share held).
Consequent to the stock split and bonus issue, the number of outstanding equity shares of the Company will increase proportionately, while the paid-up share capital will remain unchanged except to the extent of capitalization of reserves for the bonus issue. The percentage shareholding of the promoters and promoter group shall remain unchanged.
The bonus equity shares shall be issued by capitalization of the Company's eligible free reserves, securities premium, and/or retained earnings, in accordance with the provisions of the Companies Act, 2013 and applicable SEBI regulations.
Subject to requisite approvals, the Company proposes to hold an Extraordinary General Meeting (EGM) on Friday, March 13, 2026. The proposed record date for determining the eligibility of shareholders for the stock split and bonus issue, and the allotment of the bonus shares, shall be as approved and announced by the Board of Directors in accordance with applicable provisions of the Companies Act, 2013 and other applicable laws. The revised equity shares will be credited to eligible shareholders and listed for trading within the timelines prescribed under applicable regulations.
Commenting on the announcement, Mr. Deepak Kumar, Director, Avax Apparels And Ornaments Limited, said, "The stock split and bonus issue reflect our confidence in the Company's growth trajectory and our commitment to enhancing shareholder value. These measures will improve liquidity, make our shares more accessible to a wider set of investors, and support greater participation in our future growth."
About Avax Apparels And Ornaments Limited
Avax Apparels And Ornaments Limited is engaged in business of buying, selling, reselling, importing, exporting, transporting, storing, promoting, marketing or supplying, trading, dealing in any manner whatsoever in all type of goods on retail as well as on wholesale basis in India or elsewhere and manufacturing, producing, processing, importing, exporting, buying, selling, distributing, and dealing in all kinds of textiles, including knitted cloth textiles, and readymade garments of all kinds, as well as other similar items that complement clothing and apparel products.
Disclaimer: Certain statements in this release may be forward-looking in nature and are based on current expectations. Actual results may differ materially due to factors beyond the Company's control.
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