Business Segments - FY26:^[1]
a) Investments (48%):
Authum invests in listed and unlisted equities, private equity and other securities. The portfolio is split into two categories:
- Flow Investments:^[2]
Liquid positions in listed equities and other securities, used to rebalance the portfolio
and recycle capital.
- Strategic Investments:^[3]
Concentrated equity stakes held for the
long term, at times with active involvement
in restructuring the investee business.
As of FY26, investment holdings stood at Rs. 13,117 Cr, with Rs. 10,694 Cr in flow investments and Rs. 2,423 Cr in strategic investments. Listed equities formed 78% of portfolio exposure, while unlisted equities and other investments made up the remaining 22%. Investment business AUM rose to Rs. 15,841 Cr in FY26 from Rs. 13,060 Cr in FY25.^[4]
b) Lending (51%):^[5]
The company offers asset-backed lending, structured credit, private credit and special situations financing. It built this business by acquiring RCFL and the underlying business assets of RHFL.
- RCFL:^[6]
Authum acquired Reliance Commercial Finance Ltd (RCFL) through a debt resolution process in FY23. RCFL's lending business was demerged into Authum in Oct 2023. RCFL, since renamed Open Elite Developers Ltd (OEDL), remains a wholly owned subsidiary.^[7]
- RHFL:^[8]
In Mar 2023, Authum completed a Rs. 3,351 Cr debt resolution transaction for Reliance Home Finance Ltd (RHFL), acquiring RHFL's underlying loan assets through RCFL. Authum still manages both the RCFL and RHFL books for collections and recoveries.^[7][3]