Aurum PropTech takes over Housing.com from REA Group via swap
Business
Aurum PropTech is taking over Housing.com from REA Group through an all-equity swap, meaning no cash changed hands, just shares.
With this move, Aurum will issue nearly 20 million new shares (about 20.5% of its expanded capital), and REA India will end up holding a solid 24.9% stake in Aurum, making it a substantial minority shareholder.
Aurum, Housing.com to build AI platform
The plan is to blend Housing.com's huge user base (58 million monthly visitors!) with Aurum's real estate tech tools (think transactions, financing, and property management) all under one roof.
Together, they want to build an AI-powered platform for everything real estate: finding homes, renting, brokering deals, you name it.
The deal still needs regulatory sign-off before it officially goes through.