Mobavenue AI Tech Limited has announced significant corporate developments following its Board of Directors meeting held on March 18, 2026. The board approved multiple strategic initiatives including a 1:5 stock split, memorandum alterations, and key leadership transitions with the appointment of Mr. Vijay Basantani as the new Group CFO effective April 1, 2026.

Stock Split and Capital Structure Enhancement

The board approved a 1:5 stock split, converting each equity share of face value ₹10 into 5 shares of face value ₹2 each, subject to shareholder approval. The subdivision aims to enhance share liquidity and make them more accessible to a broader investor base, supporting the company's growth momentum in AI-powered advertising platforms.

The company stated that the sub-division equity shares are undertaken with a view to enhance liquidity of the company's shares in the stock market and to make them more affordable and accessible to a wider base of investors. The stock split is expected to increase trading volumes and broaden the shareholder base without affecting the overall capital structure or intrinsic value.

Leadership Transition and Strategic Appointments

The board formalized the leadership transition with Tejas Rathod stepping down from his CFO role effective March 31, 2026, while continuing as Whole-time Director. Simultaneously, the company appointed Vijay Basantani as the new Group Chief Financial Officer and designated Rathod as Chief Technology Officer, both effective April 1, 2026.

Tejas Rathod confirmed in his resignation letter that the decision was taken pursuant to an internal realignment of roles and responsibilities, enabling him to devote greater focus towards the company's technology, product development and innovation initiatives.

New Group CFO Profile and Strategic Focus

Vijay Basantani brings over two decades of experience as a seasoned Chartered Accountant. He has held key roles across globally recognized organizations including Omnicom Media Group, Mahindra & Mahindra, Infosys Technologies, and Dentsu. His expertise spans strategic finance, operational finance, corporate governance, business planning, financial controllership, and enterprise risk management.

Basantani has built a reputation for strengthening financial systems, enhancing governance frameworks, improving profitability and enabling informed decision-making at the leadership level.

Memorandum of Association Amendments

The board approved alterations to the Memorandum of Association, subject to shareholder approval. Key changes include alteration of Capital Clause (Clause V) pursuant to the stock split and modification of Objects Incidental or Ancillary to the Attainment of the Main Objects (Clause III B).

Regulatory Compliance and Implementation

All announcements comply with Regulation 30 of SEBI Listing Regulations and SEBI Master Circular requirements. The stock split proposal is subject to shareholder approval and regulatory approvals required under applicable laws. The company will seek shareholder approval through postal ballot, with the notice to be submitted to stock exchanges in due course. Company Secretary Manali Gohil signed the regulatory filing, confirming compliance with all disclosure requirements. The board meeting commenced at 1:00 PM and concluded at 2:45 PM.

Mobavenue AI Tech Limited has announced a board meeting scheduled for Wednesday, March 18, 2026, to consider a significant corporate action involving the restructuring of its equity shares. The meeting will focus on the potential stock split/sub-division of the company's existing equity shares, marking an important development for shareholders and market participants.

Board Meeting Details

The board meeting has been convened under Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The primary agenda item involves the consideration and approval of stock split/sub-division of existing equity shares.

Stock Split Proposal

The board will deliberate on subdividing the company's existing equity shares, which currently carry a face value of Rs. 10/- each. The specific details of the new share structure, including the number of shares and their respective values, will be determined by the board of directors during the meeting. This corporate action is subject to multiple approvals including shareholder consent and necessary regulatory clearances under applicable laws.

Trading Window Restrictions

In accordance with insider trading prevention measures, Mobavenue AI Tech Limited has implemented a trading window closure effective from March 10, 2026. This restriction applies to all designated persons and their immediate relatives, ensuring compliance with the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015.

Company Background

Mobavenue AI Tech Limited, formerly known as Lucent Industries Limited, operates with its registered office located at 208, White Lotus Plaza, 1 Avantika Nagar, Scheme No. 51 Sangam Nagar, Army Head Quarter Indore, Madhya Pradesh. The company maintains its corporate office in Mumbai, Maharashtra, and is led by Chairman & Chief Operating Officer Kunal Kothari.

The announcement represents a significant corporate development that will require careful consideration by the board and subsequent approval processes. Shareholders and market participants will await the outcome of the March 18, 2026 board meeting to understand the final structure of the proposed stock split.