Authum Investment & Infra promoter divests 2.7% stake for ₹1,165 cr

Mentor Capital, one of the promoters of Authum Investment & Infrastructure Ltd, on Thursday pared a 2.7 per cent stake in the NBFC firm for Rs 1,165 crore through open market transactions.

Capital markets veteran Sanjay Dangi and his wife, Alpana Dangi, control Mentor Capital.

According to the bulk deal data on the BSE, Mentor Capital offloaded 46.61 lakh shares, representing a 2.74 per cent stake in Mumbai-based Authum Investment & Infrastructure Ltd (AIIL).

The shares were disposed of at an average price of Rs 2,500.58 apiece, taking the transaction value to Rs 1,165.60 crore. 

Meanwhile, US-based Fidelity International through its affiliate bought 27.41 lakh shares or 1.61 per cent stake in AIIL for Rs 685 crore through an open market transaction.

The shares were picked up at an average price of Rs 2,500 apiece.

Details of the other buyers of Authum Investment & Infrastructure's shares could not be ascertained on the exchange.

Shares of Authum Investment & Infrastructure Ltd declined 3.15 per cent to close at Rs 2,891.90 apiece on the BSE.

In July, Mentor Capital divested a 3.41 per cent stake in AIIL for Rs 1,307 crore.