AvenuesAI Limited: Monitoring Agency Report Confirms No Deviation in Rights Issue Fund Utilization
AvenuesAI Limited's Monitoring Agency Report for Q4FY26 confirms no deviation in the utilization of its ₹699.99 crore Rights Issue proceeds. As of March 31, 2026, ₹315.47 crore has been utilized across investments in subsidiaries, acquisitions, and general corporate purposes. Unutilized funds of ₹328.78 crore are invested in FDs and subsidiaries.
This is a routine compliance filing confirming that the company is adhering to the utilization plan of its rights issue proceeds. It does not introduce new material information that would significantly impact the company's valuation or stock price.
The report is a routine update on fund utilization and confirms no deviation, which is a neutral development as it meets expectations.
AvenuesAI Limited (formerly Infibeam Avenues Limited) has submitted its Monitoring Agency Report for the quarter ended March 31, 2026. The report, issued by CARE Ratings Limited, confirms that there has been no variation or deviation in the utilization of funds raised through the company's Rights Issue. The total Rights Issue size was ₹699.99 crore.
The report details the utilization of funds across various objectives, including investment in subsidiaries like Infibeam Projects Management Private Limited, Nueromind Technologies Private Limited, and Rediff.com India Limited, as well as for funding acquisitions and general corporate purposes. As of March 31, 2026, the total utilized amount was ₹315.47 crore, with ₹328.78 crore remaining unutilized.
Specifically, ₹69.84 crore was invested in Infibeam Projects Management Private Limited, ₹9.44 crore in Nueromind Technologies Private Limited for AI software development, and ₹76.70 crore in Rediff.com India Limited for digital and payment ecosystem expansion. An amount of ₹169.34 crore was utilized for general corporate purposes, and ₹3.46 crore for issue-related expenses.
The company has also provided details on the deployment of unutilized proceeds, which include investments in Fixed Deposits with Axis Bank and Yes Bank, totaling ₹367.19 crore. A portion of these unutilized funds, ₹11.19 crore and ₹0.54 crore, were parked in subsidiaries' accounts pending further utilization.
The report confirms that the utilization of funds aligns with the stated objectives in the offer document, and no material deviations requiring shareholder approval have occurred. The company expects capex initiatives under its subsidiaries to be utilized within the specified timelines.
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AvenuesAI Limited filed this with the NSE as a statutory disclosure, categorised under other regulatory filings. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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