Avax Apparels and Ornaments

AVAX Ltd has reconstituted its Audit Committee, Nomination and Remuneration Committee, and Stakeholders Relationship Committee following the resignation of Mr. Gurvinder Singh Vohra and appointment of Mr. Rajat Goel as Additional Director in the Non-Executive Independent Director category, effective August 1, 2025. The Audit Committee is now chaired by Amitabh Agrawal with Rajat Goel and Harish Kumar as members. The Nomination and Remuneration Committee is chaired by Rajat Goel with Amitabh Agrawal and Pradeep Srivastava as members. The Stakeholders Relationship Committee is chaired by Pradeep Srivastava with Rajat Goel and Deepika as members. Additionally, the Board approved the re-appointment of Mr. Harish Kumar and Mrs. Deepika Garg as Whole Time Directors for three-year terms from September 1, 2025 to August 31, 2028, subject to shareholder approval at the upcoming Annual General Meeting. Mr. Kumar joined the company in 2021 and has 12 years of business management experience, while Mrs. Garg joined in 2022 and brings 13 years of IT consulting experience along with expertise in apparel design and manufacturing.

Avax Apparels And Ornaments Limited appointed Mr. Vikas Arora as Chief Financial Officer and Key Managerial Personnel, effective August 1, 2025. The appointment follows the resignation of the previous CFO. Arora holds a Bachelor of Commerce degree and Bachelor of Laws, with experience in financial operations, budgeting, legal compliance, and internal control systems. The company also appointed Mr. Rajat Goel as Additional Director in the Non-Executive Independent Director category, effective the same date, replacing a resigned independent director. Goel is a designated partner of PROFBUS Solutions L.L.P., holds multiple qualifications including Fellow Member of ICSI and Bachelor of Law, and has over 10-12 years of experience in corporate legal, secretarial, and compliance management. He currently holds directorships in Satyam Projects Ltd and SC Agrotech Limited. Both appointments were approved by the Board of Directors based on committee recommendations.

Avax Apparels and Ornaments shares listed at ₹133 on BSE SME, a 90% premium over the ₹70 IPO price. The stock further rallied to ₹139.55, nearly doubling investor wealth. The ₹1.92 crore SME IPO was oversubscribed 260 times, with strong demand from retail and non-institutional investors.