Authum Investment & Infra climbs 8% on CCI's nod to acquire Prataap Snacks

Shares of Authum Investment & Infrastructure soared 7.94 per cent at Rs 1839 a piece on the BSE in Wednesday’s intraday trade. Authum Investment share price jumped after the Competition Commission of India (CCI) gave its nod to the company to acquire a 42.31 per cent stake in Prataap Snacks. 

 

Earlier in September, 2024, Authum Investment & Infrastructure had intimated the bourses on its proposed acquisition of 42.31 per cent stake in Prataap Snacks through execution of a share purchase agreement and open offer for up to 62,98,351 equity shares, constituting 26.01 per cent of the voting share capital.

 

 

The non-banking financial company (NBFC) had posted a weak second quarter of the financial year 2024-25 (Q2FY25).The company recorded a consolidated revenue from operations of Rs 1,092.62 crore in Q2FY25, down from Rs 2,151.75 crore in the same quarter last year, a decline of 49.2 per cent year-on-year (Y-o-Y). 

 

Sequentially revenue was down 22.3 per cent compared to Rs 1,416 crore recorded in Q1FY25.  The company’s profit after tax came in at Rs 842.77 crore for Q2FY25, down from 1,939.81 crore, representing a fall of 56.5 per cent Y-o-Y. On a quarterly basis, the profit decreased by 23.1 per cent compared to Rs 1096.64 crore registered in Q1FY25.

 

The company has a total market capitalisation of Rs 30,945.78 crore. Its shares are trading at a price to earnings multiple of 7.76 times and at an earning per share of Rs 219. 

 

At 10:36 AM, the stock price of the company advanced by 7.50 per cent at Rs 1,831.50  a piece on the BSE. By comparison, the BSE’s Sensex was up 0.05 per cent to 78,177.39 level.

 

Authum Investment & Infrastructure specialises in investing in financial instruments, including shares, securities, real estate, and loan financing. 

 

With its registered office located in Mumbai, India's financial capital, the company has made investments in both publicly listed and unlisted firms, providing growth capital, private equity, and real estate investments, as well as debt instruments. 

 

Additionally, it offers structured financing, fixed-return portfolios, secured lending, and equity investments in emerging companies.