Mobavenue AI Tech Limited Announces Board Decisions
Mobavenue AI Tech Limited (Formerly known as Lucent Industries Limited) announced several key decisions following a Board of Directors meeting held on March 18, 2026. The company approved a sub-division/split of its equity shares and alterations to its Memorandum of Association. Additionally, personnel changes were announced, including a CFO transition and appointments.The Board approved a sub-division/split of one equity share with a face value of Rs. 10 into five equity shares with a face value of Re. 2 each. This decision aims to enhance liquidity, making shares more accessible to a wider base of investors. The record date for the sub-division will be announced in due course.
Furthermore, the Board approved alterations to the Memorandum of Association, including adjustments to the Capital Clause and Objects Incidental or Ancillary to the Attainment of the Main Objects.
Mr. Tejas Rathod will be stepping down from his position as Chief Financial Officer (CFO) effective March 31, 2026, but will continue as a Whole-time Director. Mr. Vijay Basantani has been appointed as Group Chief Financial Officer (Key Managerial Personnel), effective April 1, 2026. Additionally, Mr. Tejas Rathod will assume the role of Whole Time Director & Chief Technology Officer (CTO), also effective April 1, 2026.
Share Capital Details
The following table details the pre- and post-sub-division share capital:
| Particulars | Pre Sub-division | Post Sub-division |
|---|---|---|
| Authorized | 2,00,00,000 Shares | 10,00,00,000 Shares |
| Face Value | Rs. 10/- | Rs. 2/- |
| Paid-up | 1,54,59,558 Shares | 7,72,97,790 Shares |
| Face Value | Rs. 10/- | Rs. 2/- |
| Subscribed | 1,54,59,558 Shares | 7,72,97,790 Shares |
| Face Value | Rs. 10/- | Rs. 2/- |
The Board meeting commenced at 1:00 P.M. and concluded at 2.45 P.M.
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