Aurum PropTech Expands: Acquires PropTiger from REA Group
Aurum PropTech Ltd announced the acquisition of PropTiger, a housing brokerage platform, for Rs 86.45 crore from REA Group, Australia. The deal involves an all-stock strategic equity swap, enhancing Aurum's portfolio in real estate technology and marking an expansion strategy through the launch of a Small and Medium Real Estate Investment Trust.
- Country:
- India
Aurum PropTech Ltd has made a strategic move to expand its portfolio by acquiring PropTiger, a prominent housing brokerage platform. This acquisition, valued at Rs 86.45 crore, was purchased from Australia's REA Group as part of Aurum's broader expansion strategy.
The transaction involves an all-stock strategic equity swap, with Aurum issuing preferential shares to REA India to complete the deal. As a result, REA India will now hold a 5.54% stake in Aurum PropTech. This move further solidifies Aurum's position in the real estate technology sector.
Following the acquisition, Aurum PropTech plans to list its newly approved Small and Medium Real Estate Investment Trust (SM-REIT) on stock exchanges, creating opportunities for retail investors. This aligns with their strategy to provide fractional ownership of premium office assets, enhancing investment opportunities in the real estate market.
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