Sanjay Dangi returns, with a new ambition
The stock market veteran is eyeing the lending space and aims to grow quickly by acquiring distressed assets of big-name groups.
24 March, 2023•11 min
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24 March, 2023•11 min
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Editor's note: He may not be in the same league as Harshad Mehta or Ketan Parekh. But the return of capital markets veteran Sanjay Dangi has many in Indian finance sitting up and taking notice. Only thing though, Dangi is taking a punt on the lending space this time around. Dangi and his wife, Alpana, own 71.47% of Authum Investment and Infrastructure Ltd, a Mumbai-based non-banking financial company. Alpana is the majority shareholder, with a 65.3% stake, while her husband’s firm Mentor Capital Ltd owns 6.17% of the company. Last October, Authum took control of Reliance Commercial Finance Ltd and is in the midst of buying the loan book of Reliance Home Finance Ltd. The two NBFCs were part of the Anil Dhirubhai Ambani Group that went into bankruptcy. Authum has also put in a bid of Rs 5,550 crore for two SREI Group entities that were pushed into insolvency proceedings in October 2021. While lenders to SREI Infrastructure Finance and SREI Equipment Finance voted in favour of an offer submitted by National Asset Reconstruction Co. Ltd, Authum has filed a plea …
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