AvenuesAI Penny Stock to Attract Investor Attention on Wednesday

Penny Stock AvenuesAI Set to Capture Investor Attention

Market capitalisation of ₹4,650 crore, AvenuesAI, formerly known as Infibeam Avenues, is a penny stock that is expected to hog the limelight in trade on Wednesday, April 1, when the Indian indices reopen for trading after a one-day holiday due to Mahavir Jayanti.

AvenuesAI business update highlights several key developments that are likely to drive investor interest in the counter. On March 31, the company announced that its subsidiary Rediff.com has filed a pre-filed draft red herring prospectus (pre-DRHP) with the Securities and Exchange Board of India (Sebi) to list the company's shares on the mainboard of the BSE and the National Stock Exchange (NSE). While the filing of the Pre-filed DRHP does not necessarily mean that Rediff will undertake the initial public offering, the move is expected to generate significant interest among investors.

In a separate development, AvenuesAI is foraying into the turnkey AI technology solutions space. Through its subsidiary PhroneticAI, the company is set to offer corporates, government agencies, and large institutions a proprietary PrivateGPT – an on-premise small language model (SLM) platform built and deployed entirely within the client's own walls, with no data ever leaving the premises. This move comes at a time when privacy concerns are reshaping the way organisations engage with artificial intelligence.

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Additionally, Infibeam has integrated its leading digital payments gateway brand, CCAvenue, with Shiprocket Checkout. This alliance is expected to enable seamless digital transactions for its merchants nationwide and provide access to a faster, friction-free checkout experience built specifically for Indian consumers and D2C brands.

AvenuesAI is a fintech company that provides digital payments and enterprise software solutions to companies. Despite its potential, the penny stock has fared poorly in the last one month amid a massive selloff in the Indian stock market due to the escalating conflict in the Middle East.

The stock hit a 52-week low of ₹12.92 in Monday's trading session on March 30 but managed to rebound and end in the green at ₹13.33, up 1.37%, even as the benchmark index Nifty 50 lost over 2%. The shares are listed on both the BSE and the NSE.

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