Mobavenue AI Tech Share Price Rise 3.10% After Capital-Raise Approval

Kolkata, November 24: Mobavenue AI Tech share price is witnessing heavy investor demand today after it announced that its board has approved a proposal to raise up to ₹100 crore. As of 1:35 PM, Mobavenue AI Tech shares were up by 3.10%, or 32.30 points and were trading at ₹1,075. Until now, the shares have traded within a range of ₹1,094.80 and ₹1,064. The traded volume for the Mobavenue AI Tech stock stood at 33.98 thousand shares, with the company’s market cap at ₹1,564 crore. The shares have their 52-week high at ₹1,189.90 and their 52-week low at ₹555.

Mobavenue AI Tech Ltd (BSE: 539682) is a digital-first technology group that operates as an AI-Powered Advertising, Marketing, and Consumer Growth Platform. The company provides advanced solutions to brands, agencies, and publishers globally to drive user acquisition, engagement, and monetisation. The company was established in 2010, and is headquartered in Mumbai, Maharashtra.

Shares Rise After Company Approves ₹100 crore Fundraise

The rise in the share price comes after the company announced that its board has approved a capital fundraise of up to ₹100 crore. The company will issue 9,19,117 equity shares, priced at ₹1,088 per share, through a preferential issue.

Utilisation of Funds

The company has outlined that it is raising up to ₹100 crore for the following purposes:

• Strengthening its AI and data intelligence capabilities
• Enhancing its product and platform innovation
• Supporting its domestic and international expansion
• For acquisitions that complement its long-term AI-led strategy

Investment Takeaway for Mobavenue AI Tech

Mobavenue AI Tech has announced a fundraise of up to ₹100 crore. The significant amount will help the company expand and strengthen its business capabilities. With the investment, the company is likely to increase its revenue and potential profits in the coming quarters. However, the fundraise is pending shareholder approval, who have reacted positively to the announcement.

REF: https://www.bseindia.com/xml-data/corpfiling/AttachLive/fbf9f178-fb04-4645-bce1-8255e4e81edf.pdf

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