Aurum PropTech to take 49% stake in Integrow Asset Management for Rs 25 crore, Real Estate News, ET RealEstate
“The Board of Directors of Aurum PropTech Ltd … has approved the acquisition to effectively own 49 percent of the fully paid-up share capital of Integratow Asset Management Pvt Ltd, a technology-driven asset management company and focused on real estate for a total cash consideration of up to Rs 25 crore, ”a regulatory filing said.
The indicative period for completing the acquisition is by March 2022, he added.
In a statement, Aurum PropTech said the investment is in line with its strategy to drive digital transformation in the real estate industry by creating an integrated prop-tech ecosystem spanning the digital customer journey, property and asset management, development, investment and financing of assets.
Aurum’s investment will include stocks and potentially convertible debentures issued by Integrow, he added.
“This investment is the cornerstone of our approach to create a 360-degree platform spanning asset management, customer experience to investing and financing in the real estate industry to consistently bring of effectiveness to all stakeholders, “Ashish Deora, Founder and CEO of Aurum Ventures – the parent company of Aurum PropTech, said.
In July 2021, Aurum PropTech approved the acquisition of 51% stake in Pune-based software technology company K2V2 for a consideration of Rs 40 crore.
“This investment would allow us to disrupt and exponentially grow the technology-driven real estate asset management business in India, through the cumulative power of a strong ecosystem of technologies, Aurum PropTech is investing across the entire chain of value, ”said Interow Founder and CEO Ramashrya Yadav.