Dhyaani, A Tile Seller, Will Soon Call Itself An 'AI' Firm
In its filing, the company did not mention any plans to change business.
The board of Dhyaani Tile and Marblez Ltd. has approved to change the company's name. That's not a big deal. But there's a catch.
It may either call itself Dhyaanii Artificial Intelligence Ltd. or Dhyyaani Artificial Intelligence Ltd., according to an Oct. 17 exchange filing. But the company is in the business of selling tiles. And so far, it hasn't made any disclosure to foray into 'AI', large language models or machine learning.
Helios Capital’s Founder and Fund Manager Samir Arora spotted the filing and posted screenshots of it on X (formerly known as Twitter).
The comments under the post largely poke fun at the Ahmedabad-based company. One commenter referred to the early 2000s, implying that buzz words like “IT services” and “dot com” made a software company seem valuable at the time. Similarly, several companies had added crypto or blockchain to their names to ride initial interest in digital tokens.
With AI being the 'next big thing', the appeal to be associated with the technology can be strong, given investor interest.
Chipmaker Nvidia Corp. has been scaling up its production capabilities as the world clamours for its graphic processors. At a time when the U.S. is clamping down on the export of AI chips to China, the Indian opportunity is large. So much so that during a five-day trip to India this month, Nvidia Chief Executive Officer Jensen Huang said that the country could become one of the largest AI markets in the world.
Apart from the odd inclusion of AI in its name in the filing, Dhyaani Tile and Marblez has also approved the issue of nine bonus shares for every five held by shareholders, pending statutory and regulatory approvals.
The company’s board also approved the incorporation of a wholly owned subsidiary called Dhyani Cyberrnest Pvt.
