adplus-dvertising

Aurum PropTech freezes at 20% upper circuit; stock up 70% thus far in Nov


Shares of Aurum PropTech, formerly known as Majesco, were locked in the 20 per cent upper circuit, at Rs 146.40, also its fresh 52-week high, on the BSE on Monday amid heavy volumes.


Thus far in the month of November, the stock of the new-age technology-driven real estate company has zoomed 70 per cent, as compared to a 2.3 per cent rise in the S&P BSE Sensex. The counter has seen huge trading volumes with a combined 3.8 million equity shares having changed hands and there were pending buy orders for around 250,000 shares on the NSE and BSE.





On October 31, 2021, Aurum PropTech’s board had approved an investment of Rs 25 crore for 49 per cent 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 company said, 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.


Earlier, in July, 2021, Aurum PropTech had approved the acquisition of 51 per cent stake in Pune-based software technology firm, K2V2 for a consideration of Rs 40 crore. With this acquisition, it has jump started its journey of creating India’s first Real Estate Technology Ecosystem. K2V2 provides Software as a Service (SaaS) products, services and Enterprise Software catering to the real estate industry and holds wide portfolio of PropTech, real estate brokerage and digital marketing product and services.


On March 21, 2021, Aurum, a Mumbai based Real Estate group, signed a definitive share purchase agreement with erstwhile Promoters to acquire the 14.78 per cent promoter stake in Majesco, through its subsidiary Aurum Platz IT Private Limited for Rs 32.58 crore at Rs 77 per share.


Aurum is a new age technology driven real estate company with a track record of value creation in sectors like telecom wireless, renewable energy, residential real estate, mineral exploration, commercial real estate, residential real estate and lifestyle retail. Its experience in technology goes back to 1999 when it was the first company in the country to create a metro area network by laying optic fiber in Mumbai. Since then, the company has successfully invested in multiple sectors and for last decade into real estate.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Stay connected with us on social media platform for instant update click here to join our  Twitter, & Facebook

We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.

For all the latest Education News Click Here 

 For the latest news and updates, follow us on Google News

Read original article here

Denial of responsibility! TechiLive.in is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.