AvenuesAI Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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AvenuesAI Limited has confirmed to the stock exchanges that there was no deviation or variation in the use of proceeds from its Rights Issue of equity shares, originally disclosed in the Letter of Offer dated June 19, 2025. The company raised Rs. 69,998.57 lakhs (around Rs. 700 crore) through the Rights Issue on July 15, 2025, with CARE Ratings Limited acting as the monitoring agency. As of December 31, 2025, the funds were being used for four stated purposes: Rs. 6,984 lakhs for subsidiary loan prepayment (fully utilized), Rs. 943.20 lakhs utilized out of Rs. 29,399.59 lakhs allocated to subsidiary Nueromind Technologies for AI development, Rs. 7,030 lakhs utilized out of Rs. 8,766.40 lakhs for Rediff.com India, and Rs. 16,250 lakhs utilized out of Rs. 24,388.58 lakhs for acquisitions and general corporate purposes. The Audit Committee reviewed the statement and had no comments.
This is a routine compliance filing under SEBI's Listing Regulations confirming that the company is using the Rights Issue money as originally promised to shareholders, which is a positive governance signal. Investors should note that a large portion of the AI-focused allocation to Nueromind Technologies remains unutilized so far, which could imply slower-than-expected spending on that front.