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Mobavenue AI Tech Limited, formerly Lucent Industries Limited, announced its board approved a scheme of merger with its wholly owned material subsidiary, Mobavenue Media Private Limited, under sections 233 and other applicable provisions of the Companies Act, 2013. The move is intended to consolidate the business operations of both entities and create a more integrated corporate structure, following the company`s transformation into an AI-native advertising and consumer growth platform from India, and is expected to improve financial strength and efficiency while maximizing shareholder value.

Mobavenue AI Tech Limited, formerly known as Lucent Industries Limited, will seek shareholder approval for a scheme of amalgamation/merger with its wholly-owned subsidiary, Mobavenue Media Private limited, at a board meeting scheduled for September 15, 2026, according to a regulatory filing with the BSE Limited. The company has also closed its trading window for designated persons and their immediate relatives from September 9, 2026, until 48 hours after the board meeting’s outcome is announced.

Mobavenue AI Tech will hold a meeting of the Board of Directors of the Company on 11 August 2026.

The board of Mobavenue AI Tech at its meeting held on 20 July 2026 has approved the launch of the company`s proprietary AI powered platform, Mobavenue Neural Engine, an AI intelligence layer integrated with the company`s proprietary advertising technology platform.The board also approved the adoption and phased implementation of the company`s new corporate logo and corporate tagline as part of its brand transformation initiative.

Mobavenue AI Tech has commenced operations in Singapore, establishing the city-state as its regional hub for Southeast Asia. The expansion marks the next phase of the company`s international growth strategy and deepens its presence in one of the world`s fastest-growing digital economies. Operations will run through MAITL ASIA PTE. LTD., a wholly owned subsidiary of Mobavenue Global Holdings  From Singapore, Mobavenue will scale its AI-powered capabilities across programmatic media, audience intelligence, omnichannel customer engagement and consumer growth for brands and agencies across ASEAN. Southeast Asia`s digital economy is projected to reach USD 1 trillion by 2030, driven by rising internet penetration, mobile-first consumers and accelerating adoption of AI across industries. Singapore sits at the centre of that shift. With a digital advertising market expected to reach USD 462 million by 2032, a mature innovation ecosystem and direct access to regional decision-makers, the country is the natural gateway for technology businesses expanding across ASEAN. Mobavenue will operate a platform-led, asset-light model in the region, pairing its proprietary AI technology with local market expertise to deliver scalable, outcome-driven solutions. The approach allows the company to innovate closer to key markets while keeping its expansion capital-efficient.