Authum Investment & Infrastructure Limited (BSE:539177) entered into letter of intent to acquire Reliance Commercial Finance Limited for INR 16 billion on July 15, 2021. The transaction is subject to Non-ICA lenders, shareholders, statutory & regulatory approvals. Lenders selected Authum Investment and Infrastructure Limited as the successful Bidder to acquire Reliance Commercial Finance. The Board of Directors of Reliance Commercial Finance Limited took note of the resolution plan approved by the Lenders. The ICA Lenders with Bank of Baroda as the Lead Bank have received initial Expression of Interest from over 18 bidders, of which 4 binding bids were shortlisted and the final successful bidder, Authum Investment & Infrastructure Limited was selected.