Authum Invst Infra Promoter Sells 3.41% Stake for ₹1,307 Cr

Mentor Capital, one of the promoters of Authum Investment & Infrastructure Ltd, on Friday divested a 3.41% stake in the NBFC firm for ₹1,307 crore through an open market transaction.

Capital markets veteran Sanjay Dangi and his wife, Alpana Dangi, control Mentor Capital.

According to the bulk deal data on the BSE, Mentor Capital sold 58 lakh equity shares, amounting to a 3.41% stake in Mumbai-based Authum Investment & Infrastructure Ltd.

The shares were disposed of at an average price of ₹2,253.57 apiece, taking the deal value to ₹1,307.07 crore.

After the stake sale, Mentor Capital's holding in Authum has declined to 6.24% from 9.65%. Also, the promoter's stakeholding in the non-banking finance company (NBFC) firm has come down to 71.54% from 74.95%.

Meanwhile, US-based Fidelity Investments, through its affiliate, purchased 22.67 lakh shares or 1.33% stake in Authum while Goldman Sachs Singapore acquired 8.88 lakh shares or 0.52% holding in the NBFC firm, as per the BSE data.

The shares were bought at an average price of ₹2,250 apiece, taking the transaction value to ₹710.12 crore.

Details of the other buyers of Authum Investment & Infrastructure's shares could not be ascertained on the exchange.

Shares of Authum Investment & Infrastructure slipped 2.44 per cent to close at ₹2,740.65 per piece on the BSE.

In FY23, Authum acquired Reliance Commercial Finance Ltd and the business assets of Reliance Home Finance Ltd under the Insolvency & Bankruptcy (IBC) process.

In a separate bulk deal on the NSE, Bommi Surekha Reddy, one of the promoters of Dodla Dairy, on Friday offloaded 4.65 lakh shares or 0.77% stake for ₹59.55 crore through an open market transaction.

The shares were offloaded at an average price of ₹1,280.68 apiece on the National Stock Exchange (NSE).

Details of the buyers of Dodla Dairy's shares could not be identified on the bourse.

The scrip of Dodla Dairy fell 2.40% to settle at ₹1,303.90 apiece on the NSE.