Authum Investment & Infrastructure Limited was incorporated on July 17, 1982 promoted by Mrs. Alpana S. Dangi. The Company is a registered NBFC engaged in the business of making investments in financial instruments like acquisition of shares & securities, real estate and financing of loans. The Company has a registered office in Mumbai, known as India's finance capital.
The Company has invested in publicly listed and unlisted companies i.e., providing growth capital, private equity investments, real estate investments and debt instruments. It also engaged in structured financing, fixed returns portfolio, secured lending and equity investments in emerging companies.
The Company had encashed a large part of the proprietary portfolio to acquire two businesses related to mortgage finance. However, pursuant to Rights Issue of the Company, the promoter holding changed from 86,15,906 Equity Shares i.e. 74.74% to 1,10,90,906 Equity Shares i.e. 68.72% of paid up equity share capital of the Company. The Company bid for acquisition of assets of Reliance Home Finance Limited (RHFL) and acquisition of Reliance Commercial Finance Limited (RCFL).
The Company on June 19, 2021 and July 15, 2021 received Letter of Intent (LOI) from the Lead Bank i.e. Bank of Baroda on behalf of the Lenders of Inter Creditor Agreement (ICA) under Reserve Bank of India Directions, 2019 dated June 7, 2019 (RBI Directions) for the said acquisition of assets of RHFL and acquisition of RCFL. Both the LOI's are subject to approval by Non ICA Lenders, RBI and other regulatory and statutory requirements / approval.
The acquisition was one of the first in India where a financial services company was resolved outside the IBC, with approvals from lenders and
the court. In 2022-23, the Company acquired Reliance Commercial Finance Limited in accordance with the circular dated June 7, 2019 issued by the Reserve Bank of India on Prudential Framework for Resolution of Stressed Assets. Lenders selected the Company as the successful Bidder to acquire the Company and / or all its assets through a competitive bidding process after several rounds of negotiations between the bidders and the Lenders. As a result of this, Reliance Commercial Finance Limited was made a Wholly Owned Subsidiary of the Company effective on October 14, 2022. Further, the Company through its wholly owned subsidiary viz. RCFL acquired Business Undertaking of Reliance Home Finance Limited on a slump sale and as a going concern pursuant to the approved Resolution Plan of RHFL dated June 7, 2019 on Prudential Framework for Resolution of Stressed Assets and the order of Hon'ble Supreme Court of India dated March 3, 2023.
In 2023-24, through the Scheme of Arrangement between Reliance Commercial Finance Limited (RCFL) and the Company and their respective shareholders, the Lending Business of RCFL has been transferred to the Company effective from October 01, 2023. Company has further incorporated a wholly owned subsidiary viz. Authum Asset Management Company Private Limited on January 11, 2024 and has acquired 100% stake in Authum Real Estate Private Limited on February 21, 2024.