Authum Investment plans major preference share issue, director resigns

Authum Investment & Infrastructure's Board of Directors approved the issuance of up to 2,45,00,000 Non-Cumulative Non-Convertible Redeemable Preference Shares (NCRPS) in a meeting on October 16, 2025. These shares, with a face value of INR 10 each, will be issued at INR 1000 per share (including a premium of INR 990), aggregating up to INR 2,450 Crores. The private placement will be made to Mentor Capital Limited, the company's promoter, subject to shareholder approval. The NCRPS will be redeemed at a premium to provide an IRR of 6.5% on the issue price at the end of their 15-year tenure and will pay a 0.01% p.a. dividend on a non-cumulative basis.

Additionally, Ms. Alpana Dangi resigned as a non-executive director, effective from the close of business hours on October 16, 2025, due to personal and family commitments. Her resignation letter confirmed her continued support for the company's strategic vision in her capacity as a promoter.

The board also approved a postal ballot to seek shareholder approval for the appointment of Mr. Rajeev RA as an independent director, the Material Related Party Transaction with Mentor Capital Limited, and the NCRPS issuance. The e-voting period for the postal ballot will run from October 19, 2025, to November 17, 2025.