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Penny stock AvenuesAI shares are expected to hog the limelight in trade on Wednesday, April 1, when the Indian indices would reopen for trading after a one-day holiday due to Mahavir Jayanti.

The company announced several updates pertaining to its subsidiaries, which are likely to drive investor interest in the counter. AvenuesAI, formerly known as Infibeam Avenues, is a penny stock with a market capitalisation of ₹4,650 crore as of the last close.

In an exchange filing today, March 31, AvenuesAI said 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).

The filing of the Pre-filed DRHP shall not necessarily mean that Rediff will undertake the initial public offering, the company stated in a filing.

Furthermore, the company is foraying into the turnkey AI technology solutions space. AvenuesAI, through its subsidiary PhroneticAI, 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, the company said.

The step comes at a time when privacy concerns are reshaping the way organisations engage with artificial intelligence.

On March 16, Infibeams also announced that it has integrated its leading digital payments gateway brand, CCAvenue, with Shiprocket Checkout. "With this alliance, CCAvenue reaffirms its commitment to enabling seamless digital transactions for its merchants

nationwide. Aligning with Shiprocket Checkout empowers CCAvenue merchants to elevate their business by providing access to a faster, friction-free checkout experience built specifically for Indian consumers and D2C brands," it said in a release.

AvenuesAI is a fintech that provides digital payments and enterprise software solutions to companies.

The penny stock AvenuesAI 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 is down 19.60% in a month and 19.11% so far in 2026.

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 52-week high for penny stock stood at ₹23.64, touched on June 11, 2025, according to exchange data. The shares are listed on both BSE and NSE.

Disclaimer: This story is for educational purposes only. We advise investors to check with certified experts before making any investment decisions.Saloni Goel has over nine years of experience as a business journalist, with a strong track record of covering the financial markets. Over the course of her career, she has reported extensively on global and domestic equities, IPO market activity, commodities, and broader macroeconomic trends. Her reporting reflects a keen eye for detail, data-driven analysis, and the ability to spot emerging themes early.

At Mint, Saloni has been part of the markets team for nearly two years, where she currently works as Chief Content Producer. In this role, she plays a key part in shaping market coverage, driving editorial strategy, and ensuring timely, accurate, and insightful reporting across. She has been closely involved in breaking news coverage and in crafting stories that help decode the complex financial developments.

Before joining Mint, Saloni worked with some of India’s leading business newsrooms, including The Economic Times and Business Standard. Throughout her career, she has worn multiple hats—ranging from reporting and editing to contributing in-depth features and identifying new storytelling formats and market trends.

Her experience in fast-paced digital newsrooms has given her an edge in simplifying complex market concepts without losing analytical depth. Outside of work, Saloni enjoys reading books and spending time with her pet.

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