AvenuesAI Limited confirms that there was no deviation or variation in the utilization of funds raised through its Rights Issue of Equity Shares for the quarter ending December 31, 2025. The review, conducted by the Audit Committee and approved by the Board on February 13, 2026, confirmed adherence to the objects stated in the June 19, 2025, Letter of Offer. The total amount raised was ₹69,998.57 Lakhs, and utilization remains aligned with planned investments across subsidiaries and growth initiatives.
Confirmation of Rights Issue Fund Utilization Status
AvenuesAI Limited (formerly Infibeam Avenues Limited) has issued a formal statement regarding the utilization of proceeds from its recent Rights Issue, which concluded on July 15, 2025. For the financial quarter ending December 31, 2025, the company confirms that there has been no deviation or variation in how the raised funds were deployed against the intended objects.
The total funds raised amounted to Rs. 69,998.57 Lakhs. The confirmation follows a mandatory review by the company’s Audit Committee and subsequent approval by the Board of Directors during their meeting held on February 13, 2026.
Fund Allocation and Utilization Details (Rs. In Lakhs)
The statement detailed the status of the original planned allocations across key investment areas. For the reported quarter, all utilized amounts matched the original intended allocation, resulting in ‘Not Applicable’ for the Deviation/Variation column.
Investment in Subsidiaries and Technology Development
- Infibeam Projects Management Private Limited: The original allocation was 6,984.00, and the utilized amount for partial loan repayment matched this figure at 6,984.00.
- Nueromind Technologies Private Limited: This investment, earmarked for advanced technology development and AI Software work, had an original allocation of 29,399.59. Utilization reported for the quarter was 943.20, resulting in no variation against the original object.
Digital Expansion and Corporate Purposes
- Rediff.com India Limited Expansion: The allocation for expanding the digital and payment ecosystem was 8,766.40, with utilization reported at 7,030.00.
- Future Growth and Unidentified Acquisitions: The allocation for funding acquisitions and General Corporate Purposes stood at 24,388.58, with 16,250.00 utilized during the quarter.
Conclusion
The monitoring agency for this process is CARE Ratings Limited. The company affirms that no changes to the terms of the contract or objects requiring shareholder approval have occurred during this reporting period, maintaining full compliance with capital raising disclosure requirements.
Source: BSE
