67:297 rights issue: Penny stock below Rs 20; Company’s Phronetic.AI signs MoU with Nawgati Tech Pvt Ltd

Infibeam Avenues Ltd.'s deep-tech AI company, Phronetic (Nueromind Technologies Private Limited), has signed a Memorandum of Understanding (MoU) with Nawgati Tech Private Limited, a leader in India's fuel and mobility infrastructure. This collaboration aims to develop advanced AI-powered solutions for the fuelling, fleet, and energy sectors. The core of this innovation lies in automating real-time reasoning and decision-making by analysing CCTV video inputs. Phronetic's ABM platform will be central to this, combining Video-Language Models (VideoLLMs) for environmental understanding with reasoning models for contextualising information. This integration will enable Phronetic's Agentic AI, known as the field agent, to facilitate real-time actions, addressing current industry challenges where technologies can identify issues but lack the reasoning capabilities for action-oriented suggestions based on video inputs.

The partnership will see Phronetic integrating its Field and Desk AI Agents into Nawgati’s technology stack to enhance operational intelligence, automate customer interactions, and support intelligent decision-making. Both companies will also engage in a Go-to-Market (GTM) partnership, leveraging Nawgati's extensive on-ground deployments and its flagship Aaveg vertical SaaS platform, which is used across thousands of fuel outlets in India by major players like Indraprastha Gas, Mahanagar Gas, Torent Gas, and petrol pumps operated by dealers of Indian Oil, Bharat Petroleum, Hindustan Petroleum, and JioBP. Nawgati also powers India's two largest fuelling apps, serving over 2 million users, and has played a crucial role in digitising CNG fleet programs. This strategic alliance aims to transform the energy sector by enhancing efficiency, ensuring SOP compliance, and driving digital innovation.

Additionally, the company announced a Rights Issue to raise approximately Rs 700 crore by offering 69,99,85,723 partly paid-up equity shares at Rs 10 each, including a Rs 9 premium. Shareholders will pay Rs 5 per share upfront, with the remaining Rs 5 due later. The Record Date for eligibility was June 26, 2025, with a Rights Entitlement Ratio of 67 Rights Equity Shares for every 267 fully paid-up shares held. The issue opens today, Thursday, July 3, 2025, and closes on Friday, July 11, 2025. On-market renunciation ends on Monday, July 7, 2025, and off-market renunciation on Thursday, July 10, 2025.

About the Company

Infibeam Avenues Ltd. is a global fintech leader providing comprehensive digital payment solutions and enterprise software platforms. Their offerings include payment gateway services with over 200 payment options in 27 currencies, and they host India's largest online marketplace for government procurement. In FY24, the company processed transactions worth Rs 7.0 trillion (USD 86 billion) and currently serves over 10 million clients, including merchants, enterprises, and governments across India, UAE, Saudi Arabia, Australia, the USA, and Oman.

A public shareholder, Vishwas Ambalal Patel, holds a 10.98 per cent stake in the company as of March 2025. The company has a market cap of over Rs 5,500 crore and the stock is up over 30 per cent from its 52-week low of Rs 12.61 per share.

Disclaimer: The article is for informational purposes only and not investment advice.