Authum Investment receives RBI nod to acquire SIDBI’s ARC biz

Authum Investment and Infrastructure Ltd has secured the approval of the Reserve Bank of India (RBI) to acquire a 79.28% stake in India SME Asset Reconstruction Co. Ltd (ISARC), a SIDBI-sponsored asset reconstruction company (ARC) for INR 260 Cr via both primary and secondary investments.Authum will acquire 56.52% of ISARC through a fresh issue of 13 crore shares and buy an additional 22.75% from existing shareholders. The NBFC will inject INR 170 crore through the primary route, boosting ISARC’s minimum net worth to INR 300 crore.