Davinderpal Singh Sodhi, a member of the promoter group at avax apparels and ornaments , has increased his shareholding in the company through a market acquisition. The transaction involved the purchase of 80,000 shares, raising his total stake to 0.96% of the company's equity. This acquisition was executed over a period spanning May 28, 2026, to June 3, 2026.

The disclosure was submitted to BSE Limited on June 3, 2026, in compliance with Regulation 7(2) and 6(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015. The filing confirmed that Sodhi held 0 shares prior to the acquisition. The shares were bought on the open market, with the intimation regarding the transaction provided to the company on June 5, 2026.

Transaction Details

The following table outlines the specifics of the share acquisition by the promoter group member:

The filing was signed by Shruti Jain, Company Secretary and Compliance Officer of Avax Apparels and Ornaments Limited. The document noted that there were no trading activities in derivatives by the insider during the period under review. The company's registered office is located in New Delhi, and its shares are listed on BSE under the symbol AVAX.

Avax Apparels And Ornaments Limited has disclosed that the provisions of Regulation 23(9) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 regarding the disclosure of Related Party Transactions are not applicable to the company for the half year and year ended March 31, 2026. The company submitted this information to BSE Limited on May 25, 2026, confirming its compliance status based on its financial position as an SME-listed entity.

The company specified that pursuant to Regulation 15(2) of the SEBI LODR Regulations, certain provisions are not applicable to entities listed on the SME Exchange. However, a proviso to Regulation 15(2)(b) mandates compliance with Regulation 23 from April 01, 2025, if the entity has paid-up equity share capital exceeding ₹10 crore or net worth exceeding ₹25 crore as on the last day of the previous financial year.

avax apparels and ornaments confirmed that it does not exceed either of these financial thresholds. Consequently, the company is not required to submit the disclosure of related party transactions for the specified period. The company attached a certificate from a practicing Chartered Accountant to validate its financial position.

NKSC & Co., Chartered Accountants, issued a certificate certifying the paid-up share capital and net worth of the company for the financial years ended March 31, 2024, March 31, 2025, and March 31, 2026. The certification was based on a verification of the audited financial statements and written representations provided by the management.

The financial figures certified by the auditors indicate that the company's metrics remained below the regulatory limits required for the applicability of Regulation 23.

The certificate explicitly notes that net worth is defined as paid-up share capital and free reserves & surplus. This document was issued solely for submission to BSE Limited to determine the applicability of the provisions related to related party transactions.