Preferential Issue Update: REA India Stake to Rise to 22.91%, Promoter Warrants Issue

Marquee Qip InvestorFund Raising View source PDF Explain this filing

AURUM · price

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AI summary

Aurum PropTech is issuing about 1.98 crore equity shares to REA India Pte Limited as part of acquiring 100% stake in Locon Solutions. REA India's holding will jump from 5.56% to 22.91% on a fully diluted basis. Separately, 51 lakh fully convertible warrants will be allotted to promoter Aurum RealEstate Developers, raising Rs 118.02 crore for subsidiary funding (Rs 90 crore), strategic acquisitions (Rs 14 crore) and general purposes (Rs 14.02 crore). Promoter stake will dilute from 48.13% to 39.89%.

Likely market impact

REA India becomes a major shareholder at 22.91%, signaling strong strategic backing. Promoter stake dilutes but company raises growth capital.