Promoters increase stake in Aurum PropTech Ltd to 50.34%

Aurum PropTech Limited (formerly known as Majesco Limited) today announced that it has achieved successful closure of rights issue of INR 343.55 crore. It was oversubscribed approximately 1.05 times. The rights issue attracted interest from varied investor base including small and retail investors.

The Rights Entitlements were actively traded reflecting the interest of investors in the Rights Issue. The allotment of equity shares was competed on 19th May, 2022. The trading and listing approval was received on 23rd May, 2022. The trading of rights shares commenced today i.e. 25th May, 2022.

Mr. Ashish Deora, Founder and Chief Executive Officer of Aurum Ventures, thanking the shareholders and commenting on the success of the Rights Issue, said, "Aurum PropTech has pioneered the PropTech sector in India. This fresh infusion of capital will further institutionalise adoption of technology in real estate sector."

Aurum PropTech is engaged in developing and providing digital technology products, services, solutions, and a platform with a specific focus on the real estate sector. Aurum PropTech is an Integrated PropTech Ecosystem, one stop solution for Real Estate technology supported by transparency and trust.

The promoter shareholding post the rights issue has increased from 35.04% to 50.34%. The rights issue proceeds will help further strengthen and provide financial flexibility to Aurum PropTech to capture future growth in line with its strategic plan.

Shares of Aurum PropTech Limited was last trading in BSE at Rs. 86.50 as compared to the previous close of Rs. 89.75. The total number of shares traded during the day was 5799 in over 270 trades.

The stock hit an intraday high of Rs. 89.95 and intraday low of 85.50. The net turnover during the day was Rs. 502334.00.

Source : Equity Bulls

Keywords

AurumPropTech INE898S01029 RealEstate Technology RightsIssue FundRaising Promoters StakeIncrease