Infibeam Avenues Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 29, 2025.
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Infibeam Avenues Limited held its 15th Annual General Meeting on September 29, 2025, via video conferencing, chaired by Chairman and Managing Director Mr. Vishal Mehta. The meeting lasted just 15 minutes (11:00 a.m. to 11:15 a.m.). Six business items were transacted, including adoption of audited standalone and consolidated financial statements for FY ended March 31, 2025, re-appointment of Mr. Ajit Champaklal Mehta as a director (retiring by rotation), appointment of secretarial auditors, and an increase in authorised share capital with a corresponding amendment to the Capital Clause of the Memorandum of Association. A Special Resolution was passed for the sale and transfer of the Platform Business Undertaking through a slump sale. An Ordinary Resolution was also approved for a material related party transaction with Rediff.com India Limited. The statutory and secretarial auditors reported no qualifications in their reports.
The slump sale of the Platform Business Undertaking and the material related party transaction with Rediff.com are the most material items for shareholders, as they signal a strategic restructuring of Infibeam's business portfolio. The increase in authorised share capital gives the company flexibility for future fundraising or stock-based actions, which could have dilution implications. Voting results will be filed separately, so investors should watch for outcome details, especially on the slump sale and Rediff related party transaction.