AvenuesAI Limited (formerly Infibeam Avenues Limited) has released its Monitoring Agency Report for the quarter ended March 31, 2026. The report, issued by CARE Ratings Limited, confirms that the ₹699.99 crore raised through the company’s Rights Issue has been utilized in line with the objectives disclosed in the offer document. There were no deviations or variations observed in the application of these funds, affirming the company’s commitment to its stated financial growth initiatives.
Financial Utilization Overview
As of March 31, 2026, the company has successfully monitored the deployment of proceeds from its ₹699.99 crore Rights Issue. The audit confirms that the funds are being directed toward key strategic areas, including investments in its subsidiaries—Infibeam Projects Management Private Limited, Nueromind Technologies Private Limited, and Rediff.com India Limited—as well as funding for acquisitions and general corporate purposes.
Strategic Investment Breakdown
The capital infusion is structured to drive long-term business expansion. Notable allocations include ₹294.00 crore for advanced technology and AI-related software development at Nueromind Technologies, and ₹87.66 crore for the expansion of the digital and payment ecosystem at Rediff.com India Limited. Additionally, ₹69.84 crore has been fully utilized for the partial repayment of secured loans at Infibeam Projects Management Private Limited.
Current Project Status
The Monitoring Agency noted that while the majority of funds are allocated to specific development projects, ₹367.19 crore remains as unutilized proceeds as of the end of Q4FY26. These funds are currently parked in secure instruments, including Fixed Deposits and Monitoring Accounts, yielding returns to ensure efficient capital management. The company maintains that its capex initiatives are progressing on schedule, with completion expected within the FY27 timeline.
Source: BSE
