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Stock Report
Aurum Proptech Ltd to acquire 49% in Integrow
Posted On : 2021-11-05 11:19:31( TIMEZONE : IST )
Aurum PropTech's Board (formerly known as Majesco Ltd) has approved an investment of Rs 25 crore for 49% equity stake in Integrow Asset Management Private Limited (Integrow (integrowamc.com)) that will set pace for convergence of Proptech and Fintech.
Aurum's investment will comprise of Equity Shares and Optionally Convertible Debentures issued by Integrow, a financial services company that offers investment management and advisory services.
The investment is in line with Aurum PropTech's strategy to bring digital transformation in real estate sector by creating an Integrated PropTech Ecosystem covering Customer Digital Journey, Property and Asset Management, Development, Investment and Financing of Assets.
"This investment is keystone towards our approach of building 360-degree platform from Asset Management, Customer Experience to Investment and Financing in real estate sector in order to consistently bringing efficiency for all stakeholders," said Ashish Deora, Founder and CEO of Aurum Ventures, the parent company of Aurum PropTech, which is building an Integrated PropTech Ecosystem.
In July, 2021, Aurum PropTech had approved the acquisition of 51% stake in Pune-based software technology firm, K2V2 for a consideration of Rs. 40 crore.
Expressing his views on the deal, Ramashrya Yadav, Founder & CEO of Integrow said "This investment would empower us with velocity to disrupt and exponentially grow technology led Real Estate Asset Management business in India driven by cumulative power of strong ecosystem of technologies Aurum PropTech is investing across the value chain."
Shares of Majesco Limited was last trading in BSE at Rs. 94.70 as compared to the previous close of Rs. 92.35. The total number of shares traded during the day was 48558 in over 673 trades.
The stock hit an intraday high of Rs. 98.25 and intraday low of 94.05. The net turnover during the day was Rs. 4647679.00.
