Scaled-down sale: PropTiger, earlier worth over $200 million, sells at a reduced price
Aurum PropTech Acquires PropTiger in All-Stock Deal
Navi Mumbai-based Aurum PropTech Ltd has announced its acquisition of 100% stake in PropTiger through an all-stock strategic equity swap with REA India. The deal, valued at approximately INR 925.55 million, involves Aurum issuing 4,242,537 equity shares to REA India, making the latter a strategic shareholder in Aurum.
The acquisition transfers control of PropTiger’s entire business, including its technology platforms, teams, client relationships, and intellectual property, to Aurum PropTech. This move significantly strengthens Aurum’s position in the real estate technology market, adding PropTiger’s expertise to its portfolio. PropTiger, with a team of over 350 members specializing in residential primary sales brokerage, has demonstrated robust financial performance, with a 23% CAGR over FY22-FY24 and FY24 revenue of INR 955 million.
The strategic aim of this acquisition is to build a seamless full-stack PropTech ecosystem under Aurum, synergizing PropTiger with existing entities in its portfolio such as Nestaway, Sell.Do, and Aurum Analytica. This expansion aims to reach across residential real estate distribution in India, with the total addressable market estimated at INR 38,000 crores annually.
Post-acquisition, leadership changes are planned at PropTiger. Prakash Tejwani has been appointed as CEO, and Sridhar Srinivasan will be elevated as Chief Business Officer within 12 to 18 months.
The acquisition is pending usual regulatory approvals, including from stock exchanges, shareholders, and relevant authorities. Aurum has scheduled an Extraordinary General Meeting on August 21, 2025, to approve the preferential allotment pursuant to this transaction.
This acquisition marks a significant step for Aurum PropTech in the real estate technology sector and is expected to have implications for the real estate market in India.
Key Details:
- Acquisition type: 100% acquisition via all-stock equity swap
- Shares issued to REA India: 4,242,537 equity shares (preferential allotment)
- Deal value (consideration): Approx. INR 925.55 million
- PropTiger key stats: 350+ employees; 23% CAGR FY22-FY24; FY24 revenue INR 955 million
- Strategic aim: Build full-stack PropTech ecosystem with synergies across Nestaway, Sell.Do, Aurum Analytica
- Market impact: Strengthens Aurum’s position in residential real estate distribution (TAM INR 38,000 crores)
- Leadership changes: CEO: Prakash Tejwani; Sridhar Srinivasan elevated to Chief Business Officer (12-18 months)
- Approvals needed: Stock exchange, shareholders, regulatory bodies
- EGM date: August 21, 2025
- The acquisition of PropTiger by Aurum PropTech will bring PropTiger's extensive finance and technology platforms into Aurum's portfolio, bolstering the company's position in the real estate technology market.
- With the addition of PropTiger's robust financial performance, Aurum aims to consolidate its presence in the residential real estate distribution market, valued at INR 38,000 crores annually, by building a full-stack PropTech ecosystem synergizing PropTiger with its existing entities.
