According to the ministry of corporate filings (MCA) accessed by Inc42, Housing.com has issued 3,77,511 shares to Elara as part of this transaction. The nominal price per share stood at INR 30 (US$0.41) with a premium of INR 670 (US$ 9.13).
For this transaction, PropTiger has issued a total of 26,155 shares to Elara. While 17,775 shares were issued at a nominal value of INR 10 (US$0.14) with a premium of INR 8,422 (US$114.75), the rest 2,371 shares were allotted at the same nominal value but with a premium price of INR 8,420 (US$114.72).
The infusion in Indian entities of Elara has come a month after it had raised $70 Mn, in January 2020, from its existing investors NewsCorp and REA Group. Elara Technologies had said that it will be utilising the funds to accelerate growth, develop new products and technology and expand its sales team.
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