Aurum Prop at 20% UC

Aurum Proptech, formerly known as Majesco, is the top gainer on the BSE currently. The stock, which had closed yesterday at Rs.95.55. opened flat but soon jumped up to hit the 20% UC of the day at Rs.114.65.

The stock is reacting a bit late to the news of 31st Oct, wherein the management approved an investment of Rs 25 crore to acquire 49% stake in Integrow Asset Management, a financial services company that offers investment management and advisory services.

Aurum’s investment will comprise of equity shares and optionally convertible debentures issued by Integrow.

This is in line with the company’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.

Prior to this, the company had approved the acquisition of 51% stake in Pune-based software technology firm, K2V2 for a consideration of Rs 40 crore.