Authum Investment & Infrastructure Limited has informed the Exchange about General Updates
AIIL · price
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One of the promoters of Authum Investment & Infrastructure Limited, Mentor Capital Limited, has sold approximately 2.74% of its stake in the company through secondary market transactions. The stake was acquired by a renowned institutional investor. The company has confirmed that promoters have no intention to sell any further holding in Authum for the next 12 months. The disclosure was made under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.
While a promoter selling 2.74% stake could create short-term supply pressure on the stock, the fact that an institutional investor is the buyer and promoters have committed to holding for 12 months should reassure investors about the company's prospects.