AVAX Apparels and Ornaments Limited has announced March 27, 2026, as the record date for its approved share subdivision, following the successful completion of its 3rd Extraordinary General Meeting (EGM) on March 13, 2026. The company received unanimous shareholder approval for all proposed resolutions and has now formalized the implementation timeline for the share split.

Record Date Announcement and Implementation

The company has formally notified BSE Limited under Regulation 42 of SEBI Listing Regulations, setting Friday, March 27, 2026, as the record date for the share subdivision process. This follows the earlier EGM approval where shareholders unanimously supported the proposal to subdivide equity shares.

EGM Results and Shareholder Participation

The earlier EGM, conducted via video conferencing from 03:30 PM to 03:47 PM IST, achieved remarkable shareholder consensus with 100% voting support across all business items. The comprehensive e-voting process demonstrated strong shareholder engagement, with 646,956 votes cast representing 62.26% of the company's total shareholding.

Resolution Outcomes and Unanimous Approval

All four resolutions presented to shareholders achieved 100% approval rates, demonstrating strong stakeholder confidence in the company's strategic initiatives. The resolutions encompassed significant corporate restructuring measures including share subdivision and management changes.

Compliance and Documentation

Company Secretary Ms. Shruti Jain has filed the requisite disclosure with BSE Limited, with Managing Director Mr. Harinderpal Singh Sodhi signing the record date notification documentation. The company maintains its registered office at Jaina Tower II, Janak Puri, New Delhi, and continues to operate under CIN L14101DL2005PLC137127.

AVAX Apparels and Ornaments Limited announced the outcome of its board meeting held on February 17, 2026, where directors approved significant corporate restructuring decisions under Regulation 30 of SEBI regulations. The comprehensive package includes stock subdivision, bonus share issuance, and management redesignations, all subject to shareholder approval.

Stock Subdivision Implementation

The board approved subdividing equity shares from ₹10 to ₹5 face value, effectively doubling the number of outstanding shares while maintaining total share capital value. This subdivision aims to enhance liquidity and enable higher public participation.

The company will complete the subdivision within 2 months from board approval, subject to necessary regulatory approvals. Record dates for entitlement will be announced separately.

Bonus Share Issuance Details

The board approved issuing bonus equity shares in a 3:1 ratio, creating 62,34,948 new equity shares of ₹5 each from free reserves and share premium account. The company has ₹557.03 lacs available in free reserves as of March 31, 2025, with ₹311.75 lacs required for implementation.

The bonus shares will be credited within 2 months of board approval, with figures audited and verified as per regulatory requirements.

Management Restructuring

The board redesignated two key executives as Joint Managing Directors for five-year terms from February 17, 2026 to February 16, 2031. Mr. Harinderpal Singh Sodhi (DIN-09283654) brings over ten years of business management experience with a Bachelor's degree from Shridhar University, Pilani, Rajasthan.

Mr. Deepak Kumar (DIN-08267845) was also redesignated as Joint Managing Director, bringing significant financial expertise with a Master of Commerce from Punjab University, Ludhiana, and 10 years of experience including tenure as Assistant Manager at SEBI. He is married to Ms. Deepika Garg, the company's Whole Time Director.

Key Personnel Authorization Updates

Following the management restructuring, the company updated its authorized personnel for regulatory disclosures under SEBI regulations. The key management team includes Harinderpal Singh Sodhi and Deepak Kumar as Joint Managing Directors, Deepika Garg as Whole Time Director, and Shruti Jain as Company Secretary and Compliance Officer.

All proposed corporate actions require shareholder approval through appropriate resolutions in the company's general meeting. The board meeting concluded at 02:00 PM IST with all necessary regulatory disclosures filed under SEBI compliance requirements.