Support and Resistance Levels
Past performance
About Avax Apparels and Ornaments Ltd Avax Apparels & Ornaments Limited, initially incorporated in 2005 as Ethnic Designers Private Limited, has undergone multiple name and structural changes, including transitioning to a public limited company in 2022. Its current name reflects its dual focus on wholesale trading of knitted cloth and online retail of silver ornaments. The company sources knitted cloth directly from manufacturers, targeting readymade garment producers in Punjab, and sells silver jewelry online, specializing in affordable, gold-replica designs and Punjabi ethnic styles.
In the knitted cloth segment, Avax supplies materials for key products like jackets, t-shirts, sweaters, and jerseys. With the Indian market recognized for its high quality and competitive pricing, the company has positioned itself to leverage increasing demand both locally and globally. For its silver ornament retail operations, Avax offers a diverse range of jewelry, including necklaces, rings, earrings, and bracelets, capitalizing on India's growing silver jewelry market.
Strategic advantages include its presence in the affordable silver jewelry sector, expertise in replicating gold designs, and access to ethnic Punjabi patterns, coupled with the 2023 acquisition of machinery to bolster its knitting operations. These elements have strengthened its product offerings, catering to a variety of customer preferences.
In September 2024, Avax raised Rs 1.918 crore through an Initial Public Offering (IPO) of 2,74,000 equity shares to fund its growth. By diversifying across two high-potential markets—knitted cloth and silver jewelry—the company has created multiple revenue streams to capture opportunities in India’s robust textile and ornament sectors.