Robust participation highlights investor confidence in the Company’s AI-led strategy and digital payments growth 

Bengaluru, July 15, 2025 – Infibeam Avenues Ltd. (BSE: 539807 | NSE: INFIBEAM), an AI-driven fintech leader, is pleased to announce the successful closure of its INR 700 crore Rights Issue on July 11, 2025. The issue was 1.40 times oversubscribed, reflecting the trust and confidence that shareholders continue to place in the Company’s long-term vision and strategy.

Structured as a 67:267 Rights Issue at INR 10 per share (including a premium of INR 9 per share), the offering allowed eligible equity shareholders to subscribe to approximately four equity shares for every one share held as of the record date. The strong and broad-based participation—from promoters, institutional investors, high-net-worth individuals, and retail investors alike—underscores the Company’s resilient fundamentals and its growing role in the AI and digital payments landscape.

The Rights Issue Committee of the Company, in its meeting held on July 15, 2025, approved the allotment of 69,99,85,723 partly paid-up equity shares at INR 10 per share (including INR 9 as share premium). INR 5 per share (including INR 4.50 premium) has been received on application, with the balance payable on the Final Call as decided by the Board/Committee, at its sole discretion, from time to time.

Commenting on the outcome, Mr. Vishal Mehta, Chairman and Managing Director of Infibeam Avenues Ltd., said: “We are sincerely grateful for the overwhelming support and confidence shown by our shareholders. Their belief in our strategic vision motivates us to continue building innovative, AI-powered platforms and solutions for India and beyond. The funds raised will further strengthen our balance sheet and enable us to invest in key growth areas, including AI-driven products, digital payment solutions, and selective acquisitions aligned with our vision.”

The Company plans to deploy the net proceeds from the Rights Issue toward:

·         Investments in Phronetic.AI, its advanced Agentic AI and Video Intelligence business unit;

·         Expanding RediffPay to support UPI and broader digital financial services;

·         Developing RediffOne, an enterprise-grade AI, payments, and e-commerce platform;

·         Pursuing strategic acquisitions that complement its AI-led marketplace strategy;

·         Establishing a distributed network of data center capacity for edge compute across India.

Over the past two fiscal years, Infibeam Avenues has focused on disciplined expansion into high-growth, scalable verticals. The successful completion of the Rights Issue reinforces the Company’s commitment to long-term value creation, innovation, and prudent financial management.

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Phronetic’s ABM platform is a multimodal technology that combines Video-Language Models (Video-LLMs) with a reasoning model. The Video-LLMs provide insight for understanding the environments, while the reasoning models provides intelligence in contextualizing this information. Ultimately, Phronetic’s Agentic AI, known as the field agent, enables real-time actions based on these insights.

Companies often face operational challenges related to improving efficiency and ensuring SOP (standard operating procedures) compliance. Although current technologies can identify or detect these challenges, they fall short in providing decision-making and action-oriented suggestions due to their lack of reasoning capabilities with video inputs.

“While reasoning capabilities using text are available in the market, there is a significant gap in reasoning models that effectively utilize video inputs, especially in industries such as manufacturing and retail, where physical production and on-the-floor activities take place. By leveraging reasoning capabilities to analyze video feeds, organizations can dramatically enhance their efficiency and SOP compliance, which will ultimately contribute to their business growth,” explained Mr. Rajesh Kumar, CEO of Phronetic AI, emphasizing that Phronetic’s technology addresses the pressing need for accurate decision-making by automating reasoning tasks and aiding to take an action.

Expressing his enthusiasm, Mr Rajesh Kumar further said “Partnering with Nawgati allows us to apply our intelligence at scale and create real-world impact in high-throughput, high-stakes energy operations.”

Mr. Vaibhav Kaushik, Co-Founder & CEO of Nawgati, said: “Nawgati is leading the digital transformation of India’s fuelling infrastructure through deep-tech solutions powered by AI and advanced deep learning algorithms. Our flagship platform, Aaveg, is deployed across thousands of fuel stations to monitor retail operations in real time, reduce pilferage, and ensure SOP compliance. We are delighted to work with Phronetic and leverage their advanced AI capabilities to enhance the intelligence and efficiency of our solutions. Together, we’re unlocking a new era of autonomy and efficiency across fuel and fleet networks.”

Key Highlights of the Collaboration:

·         Agentic AI Deployment: Phronetic will integrate its Field and Desk AI Agents into Nawgati’s tech stack to enhance operational intelligence, automate customer interactions, and support intelligent decision-making across various environments. 

·         Go-to-Market (GTM) Partnership: Phronetic and Nawgati will jointly go to market with AI-powered offerings for the fuel, fleet, and energy sectors, leveraging Nawgati’s vast on-ground deployments, deep-tech Aaveg platform and Phronetic’s agentic AI capabilities.

Nawgati’s flagship product, Aaveg, is a vertical SaaS platform used by energy players to optimize forecourt operations, reduce inefficiencies, manage congestion, monitor SOPsand enhance compliance. Nawgati’s product is deployed across thousands of fuel outlets across the country. In addition, Nawgati powers India’s largest fueling app, serving over 2 million users, offering a seamless end-to-end fueling experience. Nawgati has also played a pivotal role in digitising CNG fleet programs across India, streamlining logistics and enhancing transparency for commercial vehicle networks. Fuel outlets of Indraprastha Gas, Mahanagar Gas, Torent Gas, and petrol pumps operated by dealers of Indian Oil, Bharat Petroleum, Hindustan Petroleum and JioBP use Nawgati’s products.

Founded at BITS Pilani, Nawgati is at the forefront of fuel-tech innovation, developing intelligent digital infrastructure solutions for India’s energy sector. By unifying fuel stations, fleet operators, and consumers on a single platform, Nawgati enhances network utilization, streamlines refueling operations, and offers real-time visibility into fuel availability and fleet movement. The company operates at the intersection of deep-tech, mobility, and energy, and is backed by marquee investors including GAIL (India) Ltd, Ajay Upadhyaya, Deepak Bhagnani Family Office, MeitY Startup Hub, Department of Science & Technology (DST), Jash Bhurjee, BITS Spark, and Aamara Capital.

Phronetic is an AI business vertical under Nueromind Technologies Private Limited, a pioneering deep-tech AI company and a subsidiary of Infibeam Avenues Ltd.

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Commodity trader Ravi Agrawal along with others have raised equity stake in Infibeam Avenues to 9.05 percent on August 19, 2020.

Agrawal, along with persons acting in concert have acquired additional equity shares of 3,76,109 resulting in an acquisition of total 6,00,60,010 representing 9.05 percent of the total paid-up equity capital of Infibeam) as of August 23, 2020, Infibeam said in a BSE filing.

As a result, their shareholding in digital payment and e-commerce technology Platform Company has increased from 7.11 percent to 9.5 percent.

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