Authum Investment & Infrastructure’s board has approved issuing up to 2,45,00,000 Non-Cumulative Non-Convertible Redeemable Preference Shares (NCRPS) at ₹1,000 each, aggregating up to ₹2,450 Crores, to Mentor Capital Limited. Additionally, the board noted the resignation of Ms. Alpana Dangi as a Non-Executive Director, effective close of business hours on October 16, 2025, due to personal commitments.
Non-Convertible Preference Share Issuance
The board 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, with an issue price of ₹1,000 per share, including a premium of ₹990. The total amount to be raised is up to ₹2,450 Crores. These shares will be issued to Mentor Capital Limited, the Promoter of the Company, on a private placement basis, subject to shareholder approval. The tenure of the instrument is 15 years from the date of allotment or early, and the holder(s) of the NCRPS shall be paid dividend at the rate of 0.01% p.a. on a non-cumulative basis. NCRPS shall be redeemed at premium at the end of the tenure to provide IRR of 6.5% on the issue price.
Director Resignation
The board has noted the resignation of Ms. Alpana Dangi (DIN: 01506529) from her position as Non-Executive Director of the company, effective close of business hours on October 16, 2025. The resignation is due to her personal commitments. The Board acknowledged her valuable contributions during her tenure and extended its best wishes for her future endeavors.
Notice of Postal Ballot
The Board has approved a draft notice of Postal Ballot to seek shareholders’ approval for appointments of Mr. Rajeev RA (DIN: 03125952) as Independent Director, approval of Material Related Party Transaction with Mentor Capital Limited and Issuance of Non-Cumulative Non-Convertible Redeemable Preference Shares. The e-voting period will commence on Sunday, October 19, 2025 at 09:00 A.M. (IST) and shall end on Monday, November 17, 2025 at 05:00 P.M. (IST).
Source: BSE
