Fintech company Infibeam Avenues has completed its rights issue of Rs 700 crore, which was oversubscribed 1.40 times.

The rights issue opened on July 3, 2025, and closed July 11 with an over subscription of 140%, or 1.40 times of the total rights issue size of Rs 69,998.57 lakh, it said in a filing.

The offering had a 67:267 structure, allowing current shareholders to purchase 67 additional shares for every 267 shares they owned.

Following the completion, Infibeam's rights issue committee sanctioned the distribution of approximately 70 crore partially paid equity shares priced at Rs 10 each. This brings the company's total equity share capital to Rs 348.9 crore.

According to Vishal Mehta, Infibeam's Managing Director and Chairman the funds raised from the rights issue will help bolster its financial position and allow it to invest in crucial growth sectors, including artificial intelligence products, digital payment systems, and make strategic acquisitions.

The bulk of the raised capital will go toward strengthening Nueromind Technologies, which serves as the parent company for Phronetic.AI.

Phronetic specializes in creating customized AI software for businesses and intends to build a distributed network of data center infrastructure for edge computing throughout India.

Mehta has said that Phronetic AI, the company's specialized artificial intelligence division, is working on creating an international marketplace for AI agents. This platform will enable developers, businesses, and regular users to create, purchase, sell, and manage autonomous AI agents without requiring programming knowledge.

Recently, Phronetic partnered with enterprise technology company Nawgati through a memorandum of understanding to jointly develop AI-enhanced solutions for the fuel, fleet, and energy industries. These solutions will automate analytical processes for precise real-time decision-making using CCTV video feeds.

Additionally, Infibeam intends to invest INR 87.7 crore in Rediff, its digital content and online marketplace platform, to expand its digital and payment services. 

Furthermore, Infibeam has allocated Rs 250 crore for acquiring undisclosed companies to support future expansion, various business ventures, and general corporate needs.