Authum Investment & Infrastructure’s Board approved the issuance of Non-Cumulative Non-Convertible Redeemable Preference Shares (NCRPS) up to ₹2,450 Crores to Mentor Capital Limited. It also noted the resignation of Ms. Alpana Dangi as Non-Executive Director, effective October 16, 2025, due to personal commitments. The Postal Ballot notice has also been approved to seek shareholder approval for the appointment of Independent Director Mr. Rajeev RA.
NCRPS Issuance Approved
The board has approved a proposal to issue up to 24,500,000 Non-Cumulative Non-Convertible Redeemable Preference Shares (NCRPS), with a face value of ₹10 each, at a price of ₹1,000 per share, including a premium of ₹990. This issuance will be to Mentor Capital Limited, the promoter of the Company, on a private placement basis. The total amount to be raised is up to ₹2,450 Crores, subject to shareholder approval. The NCRPS tenure is 15 years from the date of allotment or earlier, with a dividend rate of 0.01% p.a. on a non-cumulative basis. The NCRPS shall be redeemed at a premium at the end of the tenure to provide an IRR of 6.5% on the issue price.
Director Resignation
Ms. Alpana Dangi has resigned from her position as Non-Executive Director of the company, effective at the close of business hours on October 16, 2025, citing personal commitments. The board acknowledged her valuable contributions during her tenure.
Postal Ballot Notice
The board also approved a draft notice for a Postal Ballot to seek shareholder approval for the appointment of Mr. Rajeev RA as an Independent Director. The e-voting period will commence on October 19, 2025, at 09:00 A.M. (IST) and end on November 17, 2025, at 05:00 P.M. (IST).
Source: BSE
