India's Authum Investment & Infra rises on buying stake in asset reconstruction co

Authum Investment & Infrastructure

15/10/2024 06:00

** Shares of Authum Investment and Infrastructure  AUTH.NS 
rise as much as 3.8% to 1,848 rupees
    ** Non-banking finance co enters into agreement with India
SME Asset Reconstruction Company to acquire 79.28% stake
    ** Deal includes primary infusion of 1.77 bln rupees ($21
mln) for 56.52% stake and a purchase consideration of 852.8 mln
rupees for the rest from certain existing shareholder
    ** AUTH last up 2.7%, nearly doubling since listing in April

($1 = 84.0610 Indian rupees)

 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))