Summary of Key Information:

Nature of Filing / Announcement: Outcome of Board Meeting under Regulation 30 of SEBI LODR Regulations

Date of Board Meeting / Approval: July 16, 2026

Meeting Duration: 11:15 AM to 11:55 AM

Audit Opinion: Not Specified

Auditor's Comment: Not Specified

Key Financial Highlights:

Standalone Results: Not Specified

Consolidated Results: Not Specified

Acquisition Details:

Target Entity: Locon Solutions Private Limited (owner of Housing.com)

Acquisition Structure: 100% equity shares, compulsorily convertible preference shares, and compulsorily convertible debentures on fully diluted basis

Seller: REA India Pte Limited, Singapore

Consideration: INR 4,58,05,87,362/- (INR 458.06 crore) through share swap

Consideration Type: Issuance of 1,97,93,309 equity shares of face value INR 5/- each

Issue Price: INR 231.42 per share

Strategic Rationale: To create a single AI and data architecture that becomes the operating layer for the entire RealEstate ecosystem connecting consumer demand, developer inventory, brokerage business, rentals and transactions.

Target Company Financials (Locon Solutions Private Limited):

  • Authorised Share Capital: INR 68,31,50,000/-
  • Paid-up Share Capital: INR 28,04,13,087/-
  • Turnover History:
  • FY 2023-24: INR 447.49 Crores (Audited)
  • FY 2024-25: INR 687.46 Crores (Audited)
  • FY 2025-26: INR 309.93 Crores (Unaudited)

Post-Acquisition Shareholding Impact:

  • REA India Pte Limited stake will increase from 5.54% to 24.90%

Corporate Actions:

Preferential Issue to REA India:

  • 1,97,93,309 equity shares of face value INR 5/- each
  • Issue price: INR 231.42 per share
  • Total consideration: INR 4,58,05,87,362/-
  • Purpose: Discharge of purchase consideration for Locon Solutions acquisition

Preferential Issue of Warrants to Promoter:

  • 51,00,000 Fully Convertible Warrants
  • Allottee: Aurum RealEstate Developers Limited (Promoter)
  • Issue price: INR 231.42 per Warrant (including premium of INR 226.42 per Warrant)
  • Total consideration: INR 1,18,02,47,100/-
  • Conversion: Each Warrant convertible to 1 equity share
  • Tenure: 18 months from date of allotment
  • Post-conversion impact: Promoter stake changes from 47.89% (3,67,48,355 shares) to 41.17% (4,18,48,355 shares) on fully diluted basis

Governance Changes:

  • Alteration of Articles of Association to incorporate tag-along rights for REA India Pte Limited
  • Tag-along rights triggered when promoters propose to sell ≥5% stake to third parties
  • REA can participate in such sales proportionally while holding ≥10% stake

Other Significant Information:

Extraordinary General Meeting: Scheduled for Friday, August 14, 2026 through Video Conferencing/Other Audio Visual Means

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