Rights Issue29 May 2026, 09:39 pm
AvenuesAI: No Deviation in Rights Issue Funds Utilisation
AI Summary
AvenuesAI Ltd (formerly Infibeam Avenues Limited) reports no deviation or variation in the utilization of funds raised through its Rights Issue of Equity Shares, as stated in the Letter of Offer dated June 19, 2025, for the quarter ended March 31, 2026. The funds raised amounted to ₹69,998.57 Lakhs. This statement, reviewed by the Audit Committee and approved by the Board of Directors on May 29, 2026, confirms adherence to the original objectives outlined for the Rights Issue proceeds.
Key Highlights
- AvenuesAI confirms no deviation in Rights Issue fund utilization for Q4 FY26.
- Rights Issue raised ₹69,998.57 Lakhs, utilized as per original objectives.
- Audit Committee reviewed and Board approved the statement on May 29, 2026.
- Monitoring agency CARE Ratings Limited confirmed no deviation.
- Original allocation included investments in subsidiaries and general corporate purposes.
Price Impact
More from INFIBEAM