Amendments to Memorandum and Articles of Association
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Mobavenue AI Tech Ltd (formerly Lucent Industries) announced four key board decisions on November 21, 2025. First, the company will issue up to 9,19,117 equity shares at Rs. 1,088 per share (face value Rs. 10, premium of Rs. 1,078) to 10 non-promoter allottees, raising approximately Rs. 100 crore on a preferential basis. The largest allottee is M.J. Construction at 4,59,559 shares, followed by AV Holdings and Amit Mishra. Second, authorized share capital will increase from Rs. 16 crore to Rs. 20 crore to accommodate the new issuance. Third, the registered office will shift from Indore (Madhya Pradesh) to Mumbai (Maharashtra). Fourth, the company introduced ESOP 2025 with 7,50,000 stock options (up to 5% of paid-up capital). Proceeds of the preferential issue will be deployed as 75% for strategic acquisitions, 15% for growth expansion and AI/technology development, and 10% for general corporate purposes.
Existing shareholders will see dilution of roughly 6% from the preferential issue, but the Rs. 100 crore raise signals aggressive growth ambitions, particularly for acquisitions and AI-driven product development. The shift of registered office to Mumbai, a major financial hub, and the ESOP scheme to attract talent suggest strategic repositioning of the company.