Real estate website PropTiger has merged with Housing.com to form one of India’s largest digital platforms for property listings.
According to ET, the deal also involved a Rs. 375 crore fund raise for the new entity by NewsCorp owned online advertising company REA Group and Softbank, the primary investor in Housing.com.
|Deal||PropTiger merges with Housing.com|
|Value||375 crore (fund raise)|
|Deal Type||M&A, PE|
|Law Firms||IndusLaw – PropTiger; AZB & Partners – Housing, SoftBank (Indian) and Nexus; Khaitan & Co – REA Group; Shardul Amarchand Mangaldas – NewsCorp; Nishith Desai Associates – Nirvana Digital; Rajah & Tann – PropTiger (Singapore); Morrison Foerster – SoftBank (International); Goodwin Procter – Flacon Edge|
|Partners/Heads||IndusLaw – Srinivas Katta; AZB & Partners – Srinath Dasari and Nanditha Gopal; Khaitan & Co – Aakash Choubey and Ganesh Prasad; SAM – Shuva Mandal; Nishith Desai – Karan Kalra; Rajah & Tann – Regina Liew, Danny Ong, and Sheila Ng; Morrison Foerster – Noah Carr and Amit Kataria; Goodwin Procter – Yash Rana|
IndusLaw acted as the lead counsel for PropTiger through a team led by Partner Srinivas Katta and including Principal Associate Anindya Ghosh and Associates Kriti Bhatia and Saumya Ramakrishnan.
Shardul Amarchand Mangaldas acted for NewsCorp, which is the primary investor of PropTiger. The team included Partner Shuva Mandal, Principal Associate Aayush Kapoor, Senior Associate Vasundhara Garg, and Principal Associate Designate Sayak Maity.
Khaitan & Co was counsel for REA Group; the team included Partners Aakash Choubey and Ganesh Prasad, Senior Associates Radhika Agarwal and Vidushi Gupta, and Associate Siddharth Anand.
AZB & Partners was Indian counsel for Housing, SoftBank and Nexus. The AZB team was led by Partners Srinath Dasari and Nanditha Gopal, along with Senior Associate Annie Philip and Associates Rutunjay Singh and Aparajitha Lath.
Nishith Desai Associates represented Nirvana Digital Investment Holding Ltd and Nirvana Digital India Fund, investors of Housing. The team included co-head of the Banking and Finance practice Karan Kalra and Associate Rishabh Sharma.
Rajah & Tann was Singapore Counsel for PropTiger, represented by Partners Regina Liew, Danny Ong, and Sheila Ng.
Morrison Foerster was international counsel for SoftBank and the team was led by Partners Noah Carr and Amit Kataria.
Goodwin Procter was counsel for Flacon Edge, investors of Housing.com. Partner Yash Rana and Associate Abhishek Krishnan were the lawyers involved.
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