Authum Investment & Infrastructure Limited — Important, 22-10-2024: Agreements

Authum Investment & Infrastructure Limited has entered a binding Restructuring Agreement with NITCO Limited. Key points include restructuring NITCO's loans of approximately INR 2,875.81 crores, converting part of its unsustainable debt (INR 1,037.81 crores) into equity, and NITCO raising fresh equity of at least INR 350 crores. After completion, Authum will hold about 45% of NITCO's expanded share capital, subject to shareholder and regulatory approvals.