Mentor Capital Reduces Stake in Authum Investment & Infrastructure

Mentor Capital sold a 2.7% stake in Authum Investment & Infrastructure Ltd for Rs 1,165 crore. Controlled by Sanjay and Alpana Dangi, the firm offloaded shares at Rs 2,500.58 each. Meanwhile, Fidelity International acquired a 1.61% stake in the company for Rs 685 crore.

On Thursday, Mentor Capital, a promoter of Authum Investment & Infrastructure Ltd, sold a 2.7% stake in the company for Rs 1,165 crore through open market transactions.

Sanjay and Alpana Dangi, the minds behind Mentor Capital, initiated the offloading of 46.61 lakh shares in the Mumbai-based non-banking financial company.

While Mentor Capital reduced its stake, U.S.-based Fidelity International bought a 1.61% stake for Rs 685 crore. Shares for both transactions hovered around Rs 2,500 apiece as Authum's stock closed with a 3.15% decline on the BSE.

(With inputs from agencies.)