M&A M&A
Aurum PropTech acquires PropTiger from REA India in Rs.87-Cr share swap deal
Source BSE Announcement (opens in a new tab)Economic Times (opens in a new tab)
Publicly listed Aurum PropTech has acquired 100% equity stake in PropTiger Marketing Services India through a strategic all-stock deal, valued at INR 86.45 crore, from REA India. As part of the transaction, REA India will receive 4,242,537 fully paid-up equity shares of Aurum PropTech via preferential allotment, representing a 5.54% equity stake in the acquirer company.Post-acquisition, the company has appointed Prakash Tejwani as CEO of PropTiger and will elevate Sridhar Srinivasan to chief business officer over the next 12 to 18 months.