Aurum PropTech (Aurum) and REA Group today announced a strategic transaction under which Housing.com (Housing) will join the Aurum PropTech ecosystem. The combination brings together Housing, India's leading real estate marketplace, and Aurum, the largest tech-enabled PropTech ecosystem, into one integrated platform, spanning property discovery, transactions, financing, rentals and management across the real estate life cycle.
Aurum PropTech has entered into a binding Share Acquisition Agreement to acquire 100% of Housing.com in an all-equity transaction, through the issuance of 1,97,93,309 equity shares (representing approximately 20.5% of the enlarged share capital). Following the transaction, REA India's total shareholding in Aurum PropTech will increase to 24.9%.
