Double Dhamaka! Micro-Cap Stock Approves 3:1 Bonus Shares & 1:2 Stock Split; Details Here
Business
The micro-cap textile firm Avax Apparels and Ornaments Ltd. announces that its Board of Directors approved a proposal for a stock split and the issuing of bonus equity shares during its meeting on Tuesday, February 17, 2026, subject to shareholder and regulatory clearances.
The Board considered and approved “Sub-division of the face value of each Equity Share of the Company from Rs 10/- (Rupees Ten only) each to Rs 5/- (Rupees Five only) each. Accordingly, every 1 (one) existing Equity Share of face value of Rs 10/- each fully paid-up is sub-divided into 2 (two) Equity Shares of face value of Rs 5/- each fully paid-up, subject to the approval of the members of the Company. The record date for determining the entitlement of the members of the Company to receive Stock Sub-division shares will be announced in due course,” Avax Apparels and Ornaments said in a statement.
The Board also approved “Issue of bonus equity shares in the ratio of 3:1, i.e., Three (3) bonus equity share of face value of Rs 5/- each for every one (1) fully paid-up equity share of face value of Rs 5/- each ranking pari-passu in all respects, subject to the approval of the members of the Company. The record date for determining the entitlement of the members of the Company to receive bonus equity shares will be announced in due course,” Avax Apparels and Ornaments further informed the exchanges.
Enhancing liquidity in the company’s equity shares, making them more affordable, and expanding the investor base—especially retail participation—are the goals of the scheduled stock split and bonus issue.
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.
Avax Apparels and Ornaments Target Price
“Avax Apparels stock price is bullish but also overbought with next resistance at 306 on the Daily charts. Investors should book profits at current levels as a Daily close below support of 284 could lead to a target of 248 in the near term,” commented A R Ramachandran, part-time SEBI-registered Research Analyst, Tips2trades.
About Avax Apparels and Ornaments
In addition to manufacturing all types of textiles and apparel products, Avax Apparels And Ornaments Limited is involved in the following business activities: buying, selling, reselling, importing, exporting, transporting, storing, promoting, marketing, or supplying, trading, and dealing in any way whatsoever in all types of goods on a retail and wholesale basis in India or elsewhere.
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