Aurum PropTech Ltd, formerly known as Majesco Ltd. will acquire 49% stake in Integrow Asset Management Pvt. Ltd for ₹25 crore, to enable the convergence of property technology and fintech. The board of Aurum PropTech has approved the acquisition, which is expected to be completed by March 2022. 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.
Mumbai-based Integrow was set up in 2020 by Ramashrya Yadav, former chief executive officer-real estate practice, Edelweiss Financial Services Ltd. The investment is in line with Aurum PropTech’s strategy to bring digital transformation in the real estate sector by creating an integrated proptech ecosystem covering customer digital journey, property and asset management, development, investment and financing of assets.
n July 2021, Aurum PropTech had approved the acquisition of 51% stake in Pune-based software technology firm K2V2 for ₹40 crore.
Real estate firm Aurum Ventures in March had acquired 14.78% in IT consulting and software firm Majesco through its subsidiary Aurum Platz IT Pvt. Ltd.
“We will not just be an asset management company anymore. The capital will be used for growth and expansion, and in upgrading the tech platform. This investment would empower us to disrupt and exponentially grow technology-led real estate asset management business in India,” said Integrow’s founder and chief executive officer Ramashrya Yadav.