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Majesco to build a Proptech Ecosystem, to acquire 51% stake in K2V2 Technologies Pvt Ltd

Posted On: 2021-07-23 18:01:43 (Time Zone: UTC)


Pursuant to closure of Open Offer, control and management of Majesco is now with Aurum Group. With the real estate and technology experience of new management, Majesco will create a digital and technology ecosystem focused on complete value chain of Real Estate.

Majesco's Board has approved strategic investment in K2V2 Technologies Private Limited (www.sell.do) by acquisition of 51% (on fully diluted basis) for INR 40 Crore. Pune based K2V2 is a software technology firm providing Software as a Service (SaaS) products, services and Enterprise Software catering to the Real Estate Industry. It holds wide portfolio of PropTech, Real Estate Brokerage and Digital marketing product and services.

Ashish Deora, Founder and CEO of Aurum Ventures said "With this acquisition, we have jumpstarted our journey of creating India's first integrated PropTech Ecosystem. K2V2 holds substantial market share in Real Estate CRM, Sales Automation and Marketing. Our investment will fuel growth of K2V2 under their vastly experienced founders, Vikram, Vinayak and Ketan."

Vikram Kotnis, Co-Founder K2V2 said "We are delighted to be associated with Aurum Group. We have a solid foundation for growth in our End-to-End Solution for the Real Estate Industry. With a strong 200-member team with more than 10 years' experience in technology along with the growth capital now being infused by Majesco, we are looking to scale up our CRM and digital selling capabilities. This association will also help us take our flagship product, Kylas (a SaaS based sales CRM for SMBs) to India and the globe."

The investment is in line with Majesco's strategy to bring digital transformation in real estate sector by creating a PropTech Ecosystem covering Customer Digital Journey, Property and Asset Management, Development, Investment and Financing of Assets.

Shares of Majesco Ltd was last trading in BSE at Rs. 90 as compared to the previous close of Rs. 90.1. The total number of shares traded during the day was 45090 in over 939 trades.

The stock hit an intraday high of Rs. 92.45 and intraday low of 89.75. The net turnover during the day was Rs. 4115416.


Source: Equity Bulls

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