Mumbai, Aug. 29 -- The company will sell up to 20% of its stake in subsidiary Billion Dream Sports to the HRX group, reducing its holding from 99.99% to 80%. The unit, incorporated on 31 July 2025, will remain a subsidiary of Authum despite the dilution.

In another key decision, the board said it will not proceed with a Qualified Institutional Placement (QIP) or preferential allotment for now, noting that funds will be raised only "as and when required."

Other board approvals included the appointment of Mayank Arora & Co. as secretarial auditor and continuation of directorships of Ajai Kumar and Santosh Nayar, subject to shareholder nod.

The company has scheduled its annual general meeting (AGM) for 26 September 2025, where shareholder...