AvenuesAI: 10.68 Lakh Shares Converted, 69.43 Lakh Forfeited Post Rights Issue

AvenuesAI Ltd announced the outcome of its Rights Issue Committee meeting, detailing the conversion and forfeiture of partly paid-up equity shares. Following the final call money notice, 10,68,411 partly paid-up shares have been converted into fully paid-up shares upon receipt of the call money. Concurrently, 69,43,139 partly paid-up shares have been forfeited due to non-payment of the final call money, amounting to Rs. 5 per share (Rs. 0.50 face value and Rs. 4.50 premium). The company is completing formalities for the conversion and subsequent listing of the converted shares.