Mumbai-based AI startup Mobavenue AI Tech’s board has approved plans to raise about INR 100 Cr through a preferential issue of 9.19 Lakh equity shares.

In an exchange filing on November 21 (Friday), the company said that its board approved the issuance and allotment of shares by a preferential issue on a private placement basis to non-promoters of the company at INR 1,088 per share.

Pipal Capital Management, Aman Shivraj Agro Industries, Amit Mishra, and MJ Construction are among the 10 investors who will be allotted the shares.

Following the announcement during market hours on Friday, shares of the company ended 5% higher at INR 993.05 on the BSE. The stock also surged 5% to touch an intraday high of INR 1094.80 on November 24 (Monday) before closing the session at INR 1,055.

In its filing, Mobavenue said it plans to use 75% of the fresh capital for strategic acquisitions and investments. The value-accretive acquisitions, aligned with the company’s long-term vision, will enable expansion of its portfolio and accelerate revenue growth.

Besides, it aims to use 15% of the capital for growth expansion and technological advancements, and the remaining for general corporate purposes.

The funds will enable the company to deepen its AI and data intelligence capabilities, improve its product and platform portfolio, and optimise operations to expand across both domestic and international markets.

“The INR 100 Cr infusion will empower us to accelerate our technology roadmap, strengthen our AI-led product ecosystem, and expand our presence across key global markets. We also intend to explore selective, strategic acquisitions that enhance our capabilities and align with our long-term mission,” said Ishank Joshi, MD and CEO of Mobavenue.

Notably, this comes at a time when the shares of Mobavenue are on a bull run. The stock of the AI-powered tech platform has surged over 60% in the past six months on the back of strong financial performance.

Mobavenue, a bootstrapped company founded in 2017 by Joshi, Tejas Rathod, and Kunal Kothari, helps digital-first brands advertise beyond the walled gardens (closed ecosystems created by tech giants).

The company focuses on delivering integrated, measurable advertising outcomes through its proprietary technology stack. With operations built on a cost-efficient model, it maintains its core teams in India and is planning a global expansion over the next three years across North and South America, the UK, the EU, East Asia, and LATAM, supported by local hiring in these markets.

In Q2 FY26, Mobavenue reported a 17.1% quarter-on-quarter (QoQ) rise in revenue from operations to INR 54.32 Cr. Its EBITDA grew 26.3% QoQ to INR 11.04 Cr, with EBITDA margin at 20.3%. Its profit after tax (PAT) jumped 21.7% to INR 7.30 Cr, pushing PAT margins to 13.4%.

Mobavenue’s revenue crossed the INR 100 Cr mark in the first half of the current financial year (H1 FY26), while PAT stood at INR 13.30 Cr.

Along with its Q2 numbers, the company’s board also announced an interim dividend of INR 0.50 per share.

In the previous quarter, the company announced progress on its upcoming Artificial Intelligence Centre of Excellence (AI CoE) that will focus on building the next-gen agentic frameworks, strengthening AI-led decision making, and accelerating product innovation across the product suite.

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