Authum Investment & Infrastructure Limited (BSE:539177) entered into letter of intent to acquire Reliance Commercial Finance Limited from Reliance Capital Limited (NSEI:RELCAPITAL) for INR 16 billion on July 15, 2021. On October 14, 2022, Authum Investment & Infrastructure entered into agreement to acquire Reliance Commercial Finance Limited from Reliance Capital Limited (NSEI:RELCAPITAL). The transaction is subject to Non-ICA lenders, shareholders, statutory & regulatory approvals. Lenders selected Authum Investment and Infrastructure Limited as the successful Bidder to acquire Reliance Commercial Finance. The Board of Directors of Reliance Commercial Finance Limited took note of the resolution plan approved by the Lenders. The ICA Lenders with Bank of Baroda as the Lead Bank have received initial Expression of Interest from over 18 bidders, of which 4 binding bids were shortlisted and the final successful bidder, Authum Investment & Infrastructure Limited was selected. As of September 01, 2022, Debenture holders also voted in favour of the resolution plan. As of October 1, 2022, Authum Investment & Infrastructure has received No Objection Certificate from Reserve Bank of India.

Authum Investment & Infrastructure Limited (BSE:539177) completed the acquisition of Reliance Commercial Finance Limited from Reliance Capital Limited (NSEI:RELCAPITAL) for INR 10 million on October 14, 2022.