Aurum PropTech completes EGM-approved allotment: 1.98 crore shares to REA India for 100% of Locon Solutions

Aurum PropTech told the exchanges late on Tuesday, September 29 — at 21:45 IST, well after the close — that its board had passed a circular resolution allotting 1,97,93,309 new equity shares to REA India Pte. Limited, Singapore. The shares were issued at ₹231.421 apiece for consideration other than cash: they are payment for 100% of the share capital of Locon Solutions Private Limited, which Aurum is acquiring from REA India. The consideration aggregates ₹4,58,05,87,362 — that is, ₹458.06 crore, roughly a quarter of Aurum's ₹1,744 crore market capitalisation going into the filing. This was the execution step of a transaction set in motion in July: the board took it up on July 16, shareholders approved it at an extraordinary general meeting on August 14, and BSE and NSE granted in-principle approvals by letters dated September 28.

No cash changes hands in either direction. REA India — already holding 42,42,537 Aurum shares, 5.55% on a non-diluted basis as on September 29 — is selling Locon Solutions to Aurum and being paid in newly issued Aurum equity. The filing's annexure records the allotment as a preferential issue on a private placement basis under Chapter V of the SEBI ICDR Regulations and Sections 42 and 62 of the Companies Act, 2013; the new shares rank pari passu with existing shares and are subject to the applicable ICDR lock-in. At the September 30 close of ₹227.29, the enlarged base of 9,65,58,503 shares implies a market value of about ₹2,195 crore — an arithmetic figure, not a filed one.

For existing holders the mechanical effect is a 25.8% expansion of the share count: a holder of 1% before the allotment holds roughly 0.80% after it, with the new shares making up 20.5% of the enlarged base. REA India's 24.49% makes it the second-largest disclosed holder after the promoter group, which stood at 48.13% (3,67,48,355 shares) as of June 30. A promoter entity, Aurum RealEstate Developers Limited, added 30,000 shares in a market purchase on September 22 (₹0.67 crore, taking its disclosed holding from 47.89% to 47.93%). If promoter shareholding is otherwise unchanged from the June quarter, the enlarged base implies a promoter stake of roughly 38% — an inference from the last filed pattern, not a disclosed post-issue number; the next shareholding pattern will state it.

1. 16 Jul

   Board of Directors meets; outcome disclosed to the exchanges in connection with the preferential issue.

2. 21 Jul

   Notice of the Extraordinary General Meeting issued.

3. 6 Aug

   Corrigendum to the EGM notice filed with the exchanges.

4. 14 Aug

   EGM held at 2:00 PM via video conferencing; shareholders pass the resolutions covering the preferential issues.

5. 11 Sept

   Additional disclosures filed on the preferential issues approved at the EGM.

6. 28 Sept

   BSE and NSE grant in-principle approvals by letters dated September 28.

7. 29 Sept

   Board circular resolution allots 1,97,93,309 shares to REA India; disclosed to the exchanges at 21:45 IST, after market close.

Little of Tuesday's substance was new. The transaction was board-approved in July, shareholder-approved in August, and supplemented with additional disclosures in September — the September 29 filing added completion: the exchanges' in-principle approvals dated a day earlier, and the allotment itself. The September 11 update also records that the EGM covered preferential issues under two separate resolution items, so the REA India allotment may not be the only issuance the August approvals contemplated; this filing completes the REA India leg. Wednesday's +3.3% move, on volume of 84,573 shares, reads as a response to the deal closing rather than to its terms, which had been public for weeks.

The stock closed September 30 at ₹227.29, up 3.3% from Tuesday's ₹220.00. That leaves it 14.1% below the 52-week adjusted high of ₹264.64 (July 15) and 49.6% above the March 30 low of ₹151.90. The issue price of ₹231.421 sits 5.2% above the pre-filing close and 1.8% above where the stock settled after the news — REA India was allotted stock at a level the shares have not closed above since August 28.

The operating trajectory into this acquisition: consolidated revenue of ₹111.84 crore in Q1 FY27, up 63.5% from ₹68.40 crore a year earlier, though 9.7% below the March quarter's ₹123.85 crore. The reported bottom line swung from losses of ₹10.02 crore and ₹8.41 crore in the first half of FY26 to profits in the last three quarters. One caution on reading that swing: in the two most recent quarters the reported net profit (₹16.44 crore, then ₹45.18 crore) is far larger than the pre-tax profit in the same summary series (₹3.69 crore, then ₹2.31 crore), and the summary rows do not show the items bridging the two — the full results statements are the place to judge the quality of that bottom line. Separately, the FY26 numbers were re-approved on August 14, 2026 as updated audited results after an intra-group scheme of merger (Aurum Softwares and Solutions into Liv Real Solutions, both wholly owned subsidiaries) became effective on June 12, 2026, with the company stating there was no change in the financials' substance disclosed in that filing.