Authum Investment & Infrastructure Ltd. has announced the board’s approval for issuing up to 2,45,00,000 Non-Cumulative Non-Convertible Redeemable Preference Shares (NCRPS) to Mentor Capital Limited, aggregating up to ₹2,450 Crores. Additionally, the board noted the resignation of Ms. Alpana Dangi as Non-Executive Director, effective October 16, 2025, due to personal commitments.
NCRPS Issuance Approved
The Board of Directors has approved the issuance of up to 2,45,00,000 Non-Cumulative Non-Convertible Redeemable Preference Shares (NCRPS). These shares have a face value of ₹10 each, priced at ₹1000, including a premium of ₹990. The total issuance could aggregate up to ₹2,450 Crores. This will be offered to Mentor Capital Limited, a promoter of the company, on a private placement basis. This is subject to shareholder approval.
Terms of the NCRPS
The NCRPS offers a dividend rate of 0.01% p.a. on a non-cumulative basis. The tenure of the instrument is 15 years from the date of allotment or earlier redemption. The NCRPS will be redeemed at a premium at the end of the tenure to provide an Internal Rate of Return (IRR) of 6.5% on the issue price.
Director Resignation
Ms. Alpana Dangi (DIN: 01506529) has resigned from her position as Non-Executive Director of the company. This resignation is effective as of the close of business hours on October 16, 2025. The Board acknowledged her resignation and expressed appreciation for her contributions during her tenure.
Postal Ballot Notice
The board has also approved a draft notice for a postal ballot. This seeks shareholder approval for the appointment of Mr. Rajeev RA (DIN: 03125952) as an Independent Director. Also included is the approval of a material related party transaction with Mentor Capital Limited, in addition to the above-mentioned issuance of Non-Cumulative Non-Convertible Redeemable Preference Shares. The e-voting period will commence on October 19, 2025, and end on November 17, 2025.
Source: BSE
