Authum Invst Infra promoter sells 3.41 pc stake for Rs 1,307 cr

Mentor Capital, one of the promoters of Authum Investment & Infrastructure Ltd, on Friday divested a 3.41 per cent stake in the NBFC firm for Rs 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 per cent stake in Mumbai-based Authum Investment & Infrastructure Ltd.

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

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

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

The shares were bought at an average price of Rs 2,250 apiece, taking the transaction value to Rs 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 Rs 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 per cent stake for Rs 59.55 crore through an open market transaction.

The shares were offloaded at an average price of Rs 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 per cent to settle at Rs 1,303.90 apiece on the NSE.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)