Avax Apparels and Ornaments Ltd — Important, 25-05-2026: Company Update

Avax Apparels And Ornaments has confirmed that all funds raised from its Initial Public Offer (IPO), totaling Rs. 1.918 crore, have been fully utilized as per the prospectus. For the half-year and year ended March 31, 2026, there was no deviation or variation in how the funds were used. Specifically, Rs. 1.50 crore went to Working Capital, Rs. 0.218 crore for General Corporate Purposes, and Rs. 0.20 crore for Issue Expenses. This full utilization and compliance has been affirmed by the statutory auditors and noted by the company's Audit Committee and Board, signaling strong financial governance to investors.