Mobavenue AI Tech Approves Merger with Wholly Owned Subsidiary

Mobavenue AI Tech Limited (formerly Lucent Industries Limited) announced that its Board of Directors has approved a Scheme of Merger between its wholly owned subsidiary, Mobavenue Media Private Limited (MMPL), and the Company. This merger is subject to necessary regulatory approvals. The company highlighted this as a significant step in its transformation into a unified, technology-led, and globally scalable business platform, evolving from its origins as an education-focused enterprise to an AI-native advertising technology company. The filing also noted the company's rebranding from Lucent Industries to Mobavenue AI Tech Limited and a stock split during FY 2025-26. The company reported consolidated revenue of ₹218.48 crore and profit after tax of ₹29.35 crore for FY 2025-26.