Authum Investment & Infrastructure Limited has informed the Exchange regarding Change in Auditors of the company.
AIIL · price
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Awaiting price reaction for this filing.
The board approved the appointment of M/s Mayank Arora & Co. as Secretarial Auditor for a 5-year term (April 2025 to March 2030), subject to shareholder approval at the upcoming AGM on September 26, 2025. Two Independent Directors, Mr. Santosh Nayar and Mr. Ajai Kumar, were given continuation approval under SEBI Regulation 17(1)(A), which typically applies to directors above 75 years or those completing their tenure—this also needs shareholder approval. The board approved the sale of up to 20% of its 99.99% stake in newly incorporated subsidiary Billion Dream Sports Pvt Ltd (BDSPL) to HRX group, retaining 80% ownership. Importantly, the board decided NOT to proceed with fundraising via QIP or preferential allotment at present. The FY25 Annual Report and 43rd AGM notice were also approved.
The partial subsidiary stake sale is a small monetization move while keeping control. The decision to hold off on QIP means no immediate equity dilution for existing shareholders, which is mildly positive. The director continuations and secretarial auditor appointment are routine governance matters and unlikely to move the stock.