Avax Apparels and Ornaments Ltd Share Price (544337)

Avax Soft Technologies Limited which formerly incorporated on June 2 2005 as a Private Limited Company under the name Ethnic Designers Private Limited was changed to Avax Soft Technologies Private Limited dated October 11 2021 by Registrar of Companies Delhi Haryana. Consequently the Company converted into a Public Company and the name was changed to Avax Soft Technologies Limited vide a fresh Certificate of Incorporation dated November 18 2022 issued by Registrar of Companies NCT of Delhi Haryana.The Company operates within two distinct business segments the wholesale trading of knitted cloth and the online retail of silver ornaments. They directly buy from manufacturers and supply wholesale to companies and readymade garment manufacturers in Punjab. It specialize in sourcing and supplying knitted cloth which are used for manufacturing of ladies and gents jackets. It offer a wide variety of silver jewellery items including necklaces bracelets earrings and rings. The Companys key advantages in this business include operating in the affordable silver ornaments sector an increase in demand for silver ornaments in Indian markets the ability to replicate gold jewellery designs in silver and access to exclusive Punjabi ethnic designs. The Company has signed an MoU dated December 28 2022 from M/s Saini Exports for the purchase of preowned machinery for production of knitted cloth.The Indian knitted cloth market is known for its highquality products and competitive pricing which has helped the Company to establish a strong presence in the global market. The major products being produced include tshirts sweaters jerseys and other knitwear garments. Some of the key players in the Indian online silver jewellery market offer a wide range of silver jewellery products such as silver earrings silver bangles silver chains silver pendants and silver rings.The Company is planning to come out with a Public Issue by issuing of upto 274000 Equity Shares aggregating Rs 1.918 crores through fresh issue..