Infibeam Avenues Limited , a leading fintech company, has successfully completed the conversion of its partly paid-up equity shares following the final call on its rights issue. The Rights Issue Committee approved the conversion of 68.22 crore partly paid-up equity shares into fully paid-up shares on December 16, 2025, after receiving the final call money from eligible shareholders.

Rights Issue Call Completion

The company had earlier announced the first and final call on November 10, 2025, for its partly paid-up equity shares from the recent rights issue. The call period ran from November 25 to December 9, 2025, during which shareholders were required to pay Rs 5.00 per share to convert their partly paid-up shares into fully paid-up equity shares.

Conversion Details and Reconciliation

The Rights Issue Committee meeting held on December 16, 2025, approved the conversion of 68,21,82,616 partly paid-up equity shares into fully paid-up equity shares upon receipt of the final call money. This represents a high conversion rate from the total approved shares.

Background and Process

The partly paid-up equity shares were originally allotted on July 15, 2025, with Re 0.50 paid-up out of Re 1 face value. The final call completed the payment for these shares, with Re 0.50 adjusted towards the face value and Rs 4.50 towards the securities premium for each converted share. Trading in the partly paid-up shares was suspended from November 14, 2025, in accordance with regulatory guidelines.

Strategic Impact

This successful completion of the rights issue process strengthens Infibeam Avenues' capital structure and demonstrates strong shareholder confidence with the high conversion rate achieved. The company has made this information available on its website and informed the stock exchanges as per regulatory requirements.

Infibeam Avenues Limited announced significant strategic decisions during its board meeting held on December 11, 2025, marking a transformational shift toward artificial intelligence and advanced technology solutions. The comprehensive changes reflect the company's evolution from a digital payments provider to an AI-first technology enterprise.

Leadership Restructuring and Strategic Appointments

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the board approved the elevation of Vishwas Ambalal Patel from Joint Managing Director to Managing Director and Chief Executive Officer for a five-year term effective December 11, 2025. As Managing Director CEO, Patel will assume full responsibility for day-to-day operations and execution of the company's strategic plans, reporting directly to the Board.

Patel currently serves as Chairman of Payments Council of India (PCI), the primary industry body representing digital payments providers in India. With 23 years of experience in the digital payments industry, he emphasized that "This shift is not incremental, it is foundational. AI is no longer an enabler, it is central to who we are and what we are building."

According to Chairman and Managing Director Vishal Mehta, "With our strategic transformation complete and the Company entering a phase of accelerated AI-led growth, this is the right moment for Vishwas Patel to assume the role of MD CEO. His deep understanding of the payments business, strong merchant relationships, and ability to execute at scale make him the ideal leader for this next phase of growth."

New Independent Director Appointment

Simultaneously, the board appointed Ms. Neharika Vohra (DIN: 06808439) as Additional Woman Director (Non-Executive and Independent) for a five-year term beginning December 11, 2025. Vohra is currently a Professor in the Organizational Behaviour Area at Indian Institute of Management, Ahmedabad.

Dr. Vohra brings decades of scholarship and industry engagement to the board. A prolific scholar, she has published over 70 papers, authored 30 management cases, and co-written leading management textbooks. She has been deeply involved with IIMA Ventures, supporting entrepreneurship and innovation, and has advised numerous organisations on organisational development.

Strategic Name Change to Avenues AI Limited

The board approved changing the company name from Infibeam Avenues Limited to Avenues AI Limited, subject to shareholder approval, Ministry of Corporate Affairs consent, and other applicable statutory authorities. This rebranding signals evolution from payment and e-commerce infrastructure pioneer to an AI-driven digital payments and fintech powerhouse.

The board approved significant amendments to the Main Object Clause III(A) of the Memorandum of Association, expanding the company's business scope to include research, development, design, and creation of machine learning applications, real-time AI-driven decision-making technologies, and Software as a Service (SaaS) for large AI models and applications.

Market Position and Performance

The company maintains an international footprint with operations in the United Arab Emirates, Saudi Arabia, Australia, and the United States, and a presence in Oman in collaboration with three of the country's largest banks. The company processed transactions worth ₹8.67 trillion in FY25 across payments and platforms and serves over 10 million clients.