Authum Investment & Infrastructure Ltd acquires debt of Nitco Ltd

Authum Investment & Infrastructure Ltd ("Authum") has acquired the debt of Nitco Limited, previously held by JM Financial Asset Reconstruction Company Limited ("JMFARC"), acting in its capacity as trustee of various trusts. This transaction was completed under an Assignment Agreement dated April 20, 2024.

As part of this agreement, Authum has acquired all the outstanding debt alongwith preference shares from JMFARC (approx. 97% of the debt of Nitco Limited). Consequently, all securities, rights, titles and interests relating to JMFARC's involvement in Nitco Limited have now been transferred to Authum.

Shares of Nitco Limited was last trading in BSE at Rs. 60.59 as compared to the previous close of Rs. 59.41. The total number of shares traded during the day was 4405 in over 13 trades.

The stock hit an intraday high of Rs. 60.59 and intraday low of 60.59. The net turnover during the day was Rs. 266898.00.

Source : Equity Bulls

Keywords

AuthumInvestmentandInfrastructure DebtAcquisition Nitco JMFARC