Authum Investment & Infrastructure Limited has informed the Exchange about Agreements
AIIL · price
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Authum Investment & Infrastructure Limited (AIIL) has been selected as the Successful Resolution Applicant to acquire Vas Infrastructure Limited (VIL), a BSE-listed real estate company currently undergoing Corporate Insolvency Resolution Process (CIRP) since March 11, 2024. The Resolution Professional issued a Letter of Intent dated April 1, 2025, which AIIL has accepted. The total Resolution Plan value is approximately Rs. 86.04 crore, entitling AIIL to acquire 94.99% of VIL's total share capital post implementation and capital reduction. VIL is in the business of redevelopment of old buildings in Mumbai suburbs, with a turnover of just Rs. (0.42) crore in FY24. The deal is subject to NCLT Mumbai Bench approval, with implementation expected within 60 days of such approval.
This acquisition expands AIIL's footprint in Mumbai's real estate redevelopment space, targeting underlying asset value and lease rental income. The deal is small in value (~Rs. 86 crore) relative to typical listed-company acquisitions and is contingent on NCLT clearance, so it remains subject to regulatory risk before final completion.