Announced Tue, 11 Aug · 14:27 IST
AvenuesAI board OKs merger of Nueromind, Q1 revenue up 109%
CCAVENUE · price
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AI summary
Board approved merging wholly-owned Nueromind Technologies into AvenuesAI under Section 230-232 of Companies Act, subject to NCLT approval. Also approved consolidating 10 shares of Re.1 into 1 share of Rs.10. Q1 FY27 consolidated revenue rose 109% YoY to Rs 268.04 crore, PAT up 45% at Rs 84.76 crore. Investment in Ratnaafin Capital raised to Rs 70 crore. FY27 revenue guided at Rs 1100-1300 crore.
Likely market impact
Capital structure simplification and strong Q1 growth; merger needs NCLT and shareholder approval.