AvenuesAI Converts 10.68 Lakh Partly Paid Shares, Forfeits 69.43 Lakh on Non-Payment
AvenuesAI Limited converted 10,68,411 partly paid-up equity shares into fully paid-up shares following the receipt of the First and Final Call Money. The company also forfeited 69,43,139 partly paid-up shares due to non-payment of the ₹5 call money per share. These actions conclude the company's rights issue process.
The conversion of shares and forfeiture of others related to a rights issue can impact the company's capital structure and shareholder base. The amount involved in forfeiture is substantial enough to warrant a medium impact assessment.
The announcement details the conversion and forfeiture of shares related to a rights issue. While the conversion is a positive step, the forfeiture of a significant number of shares due to non-payment suggests a neutral overall impact.
AvenuesAI Limited (formerly Infibeam Avenues Limited) announced the outcome of its Rights Issue Committee Meeting held on September 11, 2026. The committee approved the conversion of 10,68,411 partly paid-up equity shares into fully paid-up equity shares upon receipt of the First and Final Call Money. This conversion is part of a larger reconciliation process where a total of 69,30,42,584 partly paid-up shares have now been converted into fully paid-up shares since the initial call on December 16, 2025.
Furthermore, the committee approved the forfeiture of 69,43,139 remaining partly paid-up equity shares. These shares were forfeited due to the non-payment of the First and Final Call Money, which amounted to ₹5 per share (₹0.50 face value and ₹4.50 premium). The last date for payment was August 31, 2026, following multiple reminders and opportunities provided to shareholders since the initial call notice on November 10, 2025. The forfeiture process was conducted in accordance with the Companies Act, 2013, the company's Articles of Association, and the Letter of Offer dated June 19, 2025. The Rights Issue Committee meeting commenced at 5:00 p.m. and concluded at 5:50 p.m.
What to do with a filing like this
AvenuesAI Limited filed this with the NSE as a statutory disclosure, categorised under other corporate actions. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by AvenuesAI Limited. Read the original for the full detail.