New Delhi, Oct. 10 -- Mumbai-based Authum Investment & Infrastructure Ltd has raised its stake in the consumer durables company MIRC Electronics Ltd, the maker of Onida appliances, to 21.25% for about Rs 131.6 crore (around $1.48 million).
The deal was completed through a preferential allotment of 7.83 crore equity shares at Rs 16.81 each, including a premium of Rs 15.81 per share, according to a stock exchange filing on Thursday.
Following the allotment, Authum's total holding in MIRC, owned by the Mirchandani family, has risen to 21.25% including its earlier 0.07% stake. The acquisition was made in cash.
Authum said the investment aims to provide MIRC with working capital support and help sustain its growth trajectory. No government or regulatory approvals were required for the transaction.
MIRC, incorporated in 1981 and best known for its Onida brand of televisions and air conditioners, reported a turnover of Rs 757.4 crore and a net worth of Rs 125.7 crore for FY25. The company's revenue has declined over the past three years from Rs 1,113 crore in FY23 to Rs 975 crore in FY24.
Authum Investment, which operates as a non-banking financial company (NBFC), has been expanding its presence in the consumer and industrial segments through strategic investments. It manages assets worth over Rs 12,600 crore as of March 2025, built largely through its own capital with minimal leverage.
Authum has also made a series of strategic bets across sectors. In late 2024, it acquired a majority stake in snack maker Prataap Snacks alongside investor Madhusudan Kela, marking its entry into the fast-moving consumer goods space. In mid-2025, Goldman Sachs (Singapore) picked up nearly Rs 200 crore worth of Authum shares through bulk deals.
Published by HT Digital Content Services with permission from VC Circle.