AvenuesAI Limited Reports No Deviation in Rights Issue Fund Utilization for Q1 FY27
AvenuesAI Limited confirms no deviation in the utilization of funds from its Rights Issue for the quarter ended June 30, 2026. The company raised ₹69,998.57 Lakhs. Utilization is in line with the stated objects, including investments in subsidiaries and general corporate purposes.
This is a standard regulatory disclosure and does not introduce new material information that would significantly impact the company's stock or operations.
The announcement is a routine compliance filing confirming that funds were utilized as planned, with no positive or negative developments.
AvenuesAI Limited (formerly Infibeam Avenues Limited) has submitted a statement confirming no deviation or variation in the utilization of funds raised through its Rights Issue. This statement pertains to the quarter ended June 30, 2026, and was reviewed by the Audit Committee and approved by the Board of Directors on August 11, 2026.
The company raised ₹69,998.57 Lakhs through the Rights Issue, with ₹34,999.29 Lakhs received on application and ₹34,598.71 Lakhs from the first and final call, which occurred on July 15, 2025. The funds were allocated across several key areas, including investment in its wholly-owned subsidiary, Infibeam Projects Management Private Limited, for loan repayment (₹6,984.00 Lakhs allocated, ₹6,984.00 Lakhs utilized). Further investment in subsidiary Nueromind Technologies Private Limited for advanced technology development and AI software related work received ₹29,399.59 Lakhs in allocation and utilized ₹944.00 Lakhs. Investment in subsidiary Rediff.com India Limited for expansion of its digital and payment ecosystem was allocated ₹8,766.40 Lakhs and utilized ₹7,670.00 Lakhs. Additionally, funds were allocated for the acquisition of unidentified businesses and general corporate purposes, with ₹24,388.58 Lakhs allocated and ₹16,933.84 Lakhs utilized. The statement confirms that the utilization aligns with the stated objects in the Letter of Offer dated June 19, 2025, and no modifications to the objects or terms requiring shareholder approval were made. The information is also available on the company's website.
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AvenuesAI Limited filed this with the NSE as a statutory disclosure, categorised under sebi compliance 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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