AvenuesAI Limited has approved the conversion of 18,50,287 Partly Paid-Up Equity Shares into Fully Paid-Up Equity Shares following the deadline for the 2nd Reminder-cum-Forfeiture Notices. This action was confirmed by the Rights Issue Committee meeting held on March 13, 2026. The total number of shares initially approved for conversion upon receipt of the First and Final Call Money stood at 69,01,23,886.
Outcome of Rights Issue Committee Meeting
AvenuesAI Limited announced the outcome of its Rights Issue Committee meeting convened on March 13, 2026. This announcement follows up on previous communications regarding the issuance of 2nd Reminder-cum-Forfeiture Notices to shareholders who failed to pay the First and Final Call Money (Rs. 5/- per share) by the deadline of March 07, 2026.
Conversion of Partly Paid Shares
The Committee formally approved the conversion of 18,50,287 Partly Paid-Up Equity Shares into Fully Paid-Up Equity Shares subsequent to the receipt of the required First and Final Call Money payment. The reconciliation statement highlights the following key figures related to this process:
- Total Partly Paid-up Equity Shares for which in-principle approval was obtained: 69,99,85,723
- Total Partly Paid-up Shares converted into Fully Paid Shares upon receipt of First and Final Call Money: 69,01,23,886
- Number of shares converted on March 13, 2026, following the Forfeiture Notice period: 18,50,287
The company confirms that this intimation is available on its official website, www.avenuesai.com.
Source: BSE
