AURUM VENTURES GIVES AN OPEN OFFER TO PUBLIC SHAREHOLDERS OF MAJESCO LIMITED FOR ACQUIRING 26% OF PUBLIC SHAREHOLDING AT 21.5% PREMIUM.

March 22, 2021

AURUM VENTURES ACQUIRES PROMOTER SHAREHOLDING OF 14.78% AT RS. 77 PER SHARE.
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Mumbai, March 22, 2021: Aurum Ventures today announced that it has signed a definitive share purchase agreement for purchase of the entire promoter shareholding of 14.78% in Majesco Limited through one of its subsidiaries Aurum Platz IT Private Limited.

Under the terms of the Share Purchase Agreement, Aurum Platz IT Private Limited will pay Rs. 77/- per share in cash to the promoters for acquiring 14.78% of promoter shareholding in Majesco Limited, upon closing of the transaction. Aurum Platz IT Private Limited has made a mandatory open offer announcement for acquiring up to 26% stake from the public shareholders of Majesco Limited at the same price subject to necessary approvals. The price represents a premium of approximately 14% over Majesco's volume weighted average market price (VWAMP) during the 60-trading day period and a premium of 21.5% over the last traded price as of March 19, 2021.

Ashish Deora, Founder and CEO of Aurum Ventures said "Majesco Limited is a good strategic fit for Aurum's real estate value chain. The acquisition portrays our capability, expertise and confidence in real estate which is going through a paradigm shift. We are evaluating strategies and will come out with a growth roadmap in the coming months."

Ketan Mehta, Founder and Non-Executive Director of Majesco Limited added "We have till date delivered significant value to the Majesco shareholders and our decision to hand over control to Aurum Ventures Group was made keeping in mind the long-term interest of the shareholders after evaluating various options. Aurum Ventures is an established player in the real estate business and we thought it is a good fit for them."

DAM Capital Advisors Limited (formerly known as IDFC Securities Limited) acted as sole advisor to Acquirer and Manager to the Open Offer.



About Aurum Ventures:

Aurum Ventures (www.aurumventures.in), is a new age Real Estate Group with end to end capabilities from Acquisition, Design, Execution, Project Management, Property Management, Sales, Leasing and Hospitality. It has a proven track record of delivering projects in Residential and Commercial Real Estate in Mumbai Metropolitan Region.

Aurum Ventures is developing a township named Q Parc in Navi Mumbai including SEZ, Office Spaces, Walk to Work Residences and Lifestyle Retail. Aurum has established Q Parc as a premium BFSI destination in Navi Mumbai.

In addition to successfully selling residential units, in May 2018, Aurum had sold two buildings with a combined built-up area of 1.4 million sq.ft. for Rs. 930 crores to a Sovereign Wealth Fund based out of Singapore. Aurum has a track record of successful divestitures across multiple sectors in the past.

Key Contact:
Ms. Khushbu Rakhecha
Aurum Ventures Private Limited
+91 9930473592
[email protected]

At Aurum we truely believe that the secret to Growth is in helping others grow.