Monitoring Agency Report for the quarter ended March 31, 2026.
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AvenuesAI Limited (formerly Infibeam Avenues Limited) submitted its Q4 FY26 monitoring agency report for a ₹699.99 crore Rights Issue completed in July 2025. CARE Ratings Limited, the monitoring agency, confirmed there is no deviation in fund utilization. As of March 31, 2026, the company has raised ₹695.98 crore and utilized ₹328.78 crore (47%). The investment in subsidiary Infibeam Projects Management is fully utilized at ₹69.84 crore. AI/technology subsidiary Nueromind has received only ₹9.44 crore of its ₹294 crore allocation, with ₹0.54 crore sitting idle in its current account. Rediff.com India subsidiary has received ₹76.70 crore of ₹87.66 crore, with ₹11.19 crore parked in FDs. General corporate purposes utilization stands at ₹169.34 crore of the ₹175 crore permitted limit.
Shareholders can be reassured that funds are being deployed largely as planned with zero deviation. However, the slow pace of AI/technology investment in Nueromind (only 3.2% utilized) and significant idle cash parked in FDs (₹367 crore) may raise concerns about execution speed and capital deployment efficiency.