Aurum PropTech soars on approving acquisition of 100% stake in NestAway
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Aurum Proptech is currently trading at Rs. 126.25, up by 8.45 points or 7.17% from its previous closing of Rs. 117.80 on the BSE.
The scrip opened at Rs. 115.15 and has touched a high and low of Rs. 128.00 and Rs. 115.15 respectively. So far 29913 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 152.40 on 05-Sep-2022 and a 52 week low of Rs. 75.05 on 04-Jul-2022.
Last one week high and low of the scrip stood at Rs. 128.00 and Rs. 110.05 respectively. The current market cap of the company is Rs. 896.83 crore.
The promoters holding in the company stood at 50.34%, while Non-Institutions held 49.65% stake in the company.
Aurum PropTech has approved the acquisition of upto 100% stake in NestAway Technologies (NestAway), a leading PropTech Brand in India for a consideration of upto Rs 90 crore, at its meeting held on June 1, 2023. In addition to the Rs 90 crore consideration towards acquisition of upto 100% share capital, Aurum PropTech will inject Rs 30 crore to stabilize the business.
This capital infusion in NestAway is a testament to Aurum PropTech’s conviction in India’s $20-billion Rental Housing market.
NestAway offers a comprehensive solution as an intermediary for every step of the home rental process.
Aurum PropTech is Software Technology and Services company with its headquarters at Navi Mumbai, India. The company was founded in 2015 as an Insurance Tech company and was formerly known as Majesco.
