AvenuesAI Limited has submitted its Monitoring Agency Report for the quarter ended June 30, 2026. The report, issued by CARE Ratings Limited, confirms that the proceeds from the Company’s Rights Issue have been utilized as per the disclosures made in the Offer Document. Importantly, there are no variations or deviations noted in the utilization of these funds, providing assurance to stakeholders regarding the deployment of capital.
Monitoring Agency Report Filed for Rights Issue Proceeds
AvenuesAI Limited (formerly known as Infibeam Avenues Limited) has provided an update on the utilization of funds raised through its Rights Issue. The company has submitted the Monitoring Agency Report for the quarter ending June 30, 2026, prepared by CARE Ratings Limited.
Key Findings: No Deviations
The report, issued in compliance with SEBI regulations, explicitly states that the utilization of the Rights Issue proceeds is in line with the disclosures made in the Offer Document. A crucial point highlighted is that there have been no variation or deviation in the utilization of these funds. This confirmation offers transparency and reassurance to investors regarding the adherence to the original deployment plan.
Further Details Available
The details pertaining to the utilization of the funds are also accessible on the company’s official website at www.avenuesai.com. The report details the progress against various objects of the issue, including investments in subsidiaries for technology development and expansion of digital ecosystems, as well as funding for acquisitions and general corporate purposes. For the quarter ended June 30, 2026, total unutilized funds amounted to ₹367.19 crore, with specific amounts allocated and utilized across different projects, as detailed in the enclosed report.
Source: BSE
