Aurum PropTech Limited — Capital/Financing Update 2022

Nov 14, 2022

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Date: November 14, 2022

Listing Department Listing Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Bandra Kurla Complex, Dalal Street, Fort, Bandra East, Mumbai – 400 001 Mumbai – 400 051

BSE Scrip Code: 539289 NSE Symbol: AURUM

Dear Sir/ Madam,

Sub: Monitoring Agency Report for the quarter ended September 30, 2022 - in relation to the Public Issue of Aurum PropTech Limited (“the Company”).

Pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed the Monitoring Agency Report for the quarter ended September 30, 2022.

You are requested to take the same on record.

Thanking you.

Yours faithfully, For Aurum PropTech Limited

KHUSHBU Digitally signed DILIP by KHUSHBU DILIP RAKHECHA RAKHECHA Khushbu Rakhecha Compliance Officer

Encl: as above

www.aurumventures.in (formerly known as Majesco Limited) investors@aurumproptech.in CIN: L72300MH2013PLC244874 +91-22-3000 1700 Office Address: Aurum Q1, Aurum Q Parć, Thane Belapur Road, Navi Mumbai 400710, India

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No. CARE/DRO/GEN/2022-23/1015

Shri Kunal Karan Chief Financial Officer

Aurum Proptech Limited

Gen-4/1, Aurum Building Q1, TTC Industrial Area Thane - Belapur Rd, Ghansoli, Navi Mumbai, Maharashtra 400710

November 10, 2022

Dear Sir,

Monitoring Agency Report for the quarter ended September 30, 2022 - in relation to the Public Issue of Aurum Proptech Limited (“the Company”)

We write in our capacity of Monitoring Agency for the Public Issue for the amount aggregating to Rs. 343.56 crore of the Company and refer to our duties cast under 82 of the Securities & Exchange Board of India (Issue of Capital & Disclosure Requirements) Regulations.

In this connection, we are enclosing the Monitoring Agency Report for the quarter ended September 30, 2022, as per aforesaid SEBI Regulations and Monitoring Agency Agreement dated April 8, 2022.

Request you to kindly take the same on records.

Thanking you,

Yours faithfully,

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Sachin Mathur

Assistant Director

Sachin.mathur@careedge.in

CARE Ratings Limited

E-1, 13th Floor, Videocon Tower, Jhandewalan Extension, New 4th Floor, Godrej Coliseum, Somaiya Hospital Road, Off Delhi – 110055 Eastern Express Highway, Sion (East), Mumbai - 400 022 Phone: +91-011-4533 3200 / 238 Phone: +91-22-6754 3456 Email: care@careedge.in • www.careedge.in

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CIN-L67190MH1993PLC071691

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Report of the Monitoring Agency (MA)

Name of the issuer: Aurum PropTech Limited For quarter ended: September 30, 2022 Name of the Monitoring Agency: CARE Ratings Limited (a) Deviation from the objects: Nil

(b) Range of Deviation: Not applicable

Declaration:

We declare that this report provides an objective view of the utilization of the issue proceeds in relation to the objects of the issue based on the information provided by the Issuer and information obtained from sources believed by it to be accurate and reliable. The MA does not perform an audit and undertakes no independent verification of any information/ certifications/ statements it receives. This Report is not intended to create any legally binding obligations on the MA which accepts no responsibility, whatsoever, for loss or damage from the use of the said information. The views and opinions expressed herein do not constitute the opinion of MA to deal in any security of the Issuer in any manner whatsoever. Nothing mentioned in this report is intended to or should be construed as creating a fiduciary relationship between the MA and any issuer or between the agency and any user of this report. The MA and its affiliates also do not act as an expert as defined under Section 2(38) of the Companies Act, 2013.

The MA or its affiliates may have credit rating or other commercial transactions with the entity to which the report pertains and may receive separate compensation for its ratings and certain credit related analyses. We confirm that there is no conflict of interest in such relationship/interest while monitoring and reporting the utilization of the issue proceeds by the issuer, or while undertaking credit rating or other commercial transactions with the entity.

We have submitted the report herewith in line with the format prescribed by SEBI, capturing our comments, where applicable. There are certain sections of the report under the title “Comments of the Board of Directors”, that shall be captured by the Issuer’s Management / Audit Committee of the Board of Directors subsequent to the MA submitting their report to the issuer and before dissemination of the report through stock exchanges. These sections have not been reviewed by the MA, and the MA takes no responsibility for such comments of the issuer’s Management/Board.

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Signature: Name of the Authorized Signatory: Sachin Mathur Designation of Authorized person/Signing Authority: Assistant Director

CARE Ratings Limited

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E-1, 13th Floor, Videocon Tower, Jhandewalan Extension, New 4th Floor, Godrej Coliseum, Somaiya Hospital Road, Off Delhi – 110055 Eastern Express Highway, Sion (East), Mumbai - 400 022 Phone: +91-011-4533 3200 / 238 Phone: +91-22-6754 3456 Email: care@careedge.in • www.careedge.in

CIN-L67190MH1993PLC071691

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1) Issuer Details:

Name of the issuer Name of the promoter Private Limited) Industry/sector to which it belongs

: Aurum Proptech Limited : Aurum Real Estate Developers Limited (formerly Aurum Platz IT

: Information Technology and IT enabled services.

2) Issue Details

Issue Period : April 26, 2022 to May 10, 2022 Type of issue (public/rights) : Rights issue Type of specified securities : Equity shares IPO Grading, if any : Not applicable Issue size (in `crore) : Rs. 343.56 crore (Note 1)*

*The Offer comprises of a rights Issue of 4,29,44,533 partly paid equity shares of face value Rs. 5 each at a price of Rs. 80 per rights equity issue (issue price) including a premium of Rs. 75 per rights equity shares aggregating to Rs. 34355.63 lakhs wherein applicants were required to pay Rs. 20 per rights issue (including a premium of Rs. 18.75 per rights equity share) and remaining Rs. 60 per rights equity share will be payable on calls which will be required to be paid on one or more subsequent Call(s), as determined by our Board and, or, the Rights Issue Committee, at its sole discretion, from time to time, in compliance with SEBI ICDR Regulations.

Note 1:

Particulars	Remarks
Total shares issued and subscribed aspart of rights issue	42944533
Totalproceeds received frompublic issue(in Rs. Crore)	85.89
Details of expenses incurred related topublic issue(in Rs. Crore)	3.99*
Netproceeds available for utilization(in Rs. Crore)	81.90

*As per the letter of offer, the estimated issue related expenses were Rs. 4.49 crores out of which company has incurred Rs. 3.99 crores till September 2022. Further, the amount mentioned as expenses is the actual expenses which the company has paid for rights issue related expenses.

3) Details of the arrangement made to ensure the monitoring of issue proceeds:

Particulars	Reply	Source of information / certifications considered by Monitoring Agency for preparation of report	Comments of the Monitoring Agency	Comments of the Board of Directors
Whether all utilization is as per the disclosures in theOffer Document?	Yes	Chartered Accountant certificate*,Bank statement	Not applicable
Whether shareholder approval has been obtained in case of material deviations# from expenditures disclosedin theOffer Document?	Not applicable	Not applicable	Not applicable
Whether the means of finance for the disclosed objectsof the issue have changed?	No	Not applicable	Not applicable
Is there any major deviation observed over the earlier monitoring agencyreports?	Not applicable	Not applicable	Not applicable
Whether all Government/statutory approvals relatedtotheobject(s)havebeenobtained?	Not applicable	Not applicable	Not applicable
Whether all arrangements pertaining to technical assistance/collaborationare inoperation?	Not applicable	Not applicable	Not applicable
Are there any favorable/unfavorable events affectingthe viability of theseobject(s)?	No	Not Applicable	No
Is there any other relevant information that may materially affect the decision making of the investors?	No	Not applicable	No

• Chartered Accountant certificate from MRM & Co. dated November 1, 2022

Where material deviation may be defined to mean:

a) Deviation in the objects or purposes for which the funds have been raised

b) Deviation in the amount of funds actually utilized by more than 10% of the amount projected in the offer documents.

CARE Ratings Limited

E-1, 13th Floor, Videocon Tower, Jhandewalan Extension, New Delhi – 110055 Phone: +91-011-4533 3200 / 238

4th Floor, Godrej Coliseum, Somaiya Hospital Road, Off Eastern Express Highway, Sion (East), Mumbai - 400 022 Phone: +91-22-6754 3456 Email: care@careedge.in • www.careedge.in

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CIN-L67190MH1993PLC071691

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4) Details of objects to be monitored: (i) Cost of objects –

Sr. No	Item Head	Source of information / certifications considered by Monitoring Agency for preparation of report	Original cost (as per the Offer Document) in Rs. Crore	Revised Cost in Rs. Crore	Comments of the Monitoring Agency	Comments of the Board of Directors	Comments of the Board of Directors	Comments of the Board of Directors
						Reason for cost revision	Proposed financing option	Particulars of - firm arrangements made
1	Product Development	Chartered Accountant certificate*, Bank statements, Offer Document	37.50	NA	NA
2	Product Marketing	Chartered Accountant certificate*, Bank statements, Offer Document	31.00	NA	NA
3	Identified Investments	Chartered Accountant certificate*, Bank statements, Offer Document	156.70	NA	NA
4.	Funding Inorganic growth initiatives and general corporate purposes	Chartered Accountant certificate*, Bank statements, Offer Document	113.87	NA	NA
Total			339.07

• Chartered Accountant certificate from MRM & Co. dated November 1, 2022

CARE Ratings Limited

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4th Floor, Godrej Coliseum, Somaiya Hospital Road, Off Eastern Express Highway, Sion (East), Mumbai - 400 022 Phone: +91-22-6754 3456

E-1, 13th Floor, Videocon Tower, Jhandewalan Extension, New Delhi – 110055 Phone: +91-011-4533 3200 / 238

Email: care@careedge.in • www.careedge.in

CIN-L67190MH1993PLC071691

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(ii) Progress in the objects –

S r. N o	Item Head	Source of information / certifications considered by Monitoring Agency for preparation of report	Amount	Amount utilised in Rs. Crore	Amount utilised in Rs. Crore	Amount utilised in Rs. Crore	Unuti lised	Comments of the Monitoring Agency	Comments of the Board of Directors	Comments of the Board of Directors
			as		Crore
			propose d in the Offer Docum ent in Rs. Crore
				As at beginni ng of the quarter in Rs. Crore					Reaso ns for idle funds	Propos ed course of action
						At
					During	the	amou
					the	end	nt in Rs. crore
					quarter	of the
					in Rs.	quart
					Crore^	er in Rs. Crore
1	Product Development	Chartered Accountant certificate*, Bank statements, Offer Document	37.50	0.19	0.61	0.80	36.70	During Q2FY23, company has paid Rs. 0.61 crores product development
2	Product Marketing	Chartered Accountant certificate*, Bank statements, Offer Document	31.00	-	0	-	31.00	NA
3	Identified Investments	Chartered Accountant certificate*, Bank statements, Offer Document	156.70	39.11	6.00	45.11	111.5 9	The company given loans of Rs. 3.00 crores each to K2V2 Technologies Private Limited and Helloworld Technologies India Private Limited
4	Funding Inorganic growth initiatives and general corporate purposes	Chartered Accountant certificate*, Bank statements, Offer Document	113.87		0		113.8 7	NA
Total			339.07 @	39.30	6.61	45.91	293.1 6^

• Chartered Accountant certificate from MRM & Co. dated November 1, 2022

• @Out of the total Rs. 339.07 crores, the company has received Rs. 81.90 crores and balance is pending to be called from the shareholders.

^The company has only received Rs. 20 per rights equity share from total Rs. 80 per rights equity share. Out of the total unutilised amount of Rs. 293.16 crores, company has Rs. 36.00 crores (excluding interest) in fixed deposits and bank accounts and balance Rs. 257.16 crores are pending to be called from the shareholders.

CARE Ratings Limited

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4th Floor, Godrej Coliseum, Somaiya Hospital Road, Off Eastern Express Highway, Sion (East), Mumbai - 400 022 Phone: +91-22-6754 3456 Email: care@careedge.in • www.careedge.in

E-1, 13th Floor, Videocon Tower, Jhandewalan Extension, New Delhi – 110055 Phone: +91-011-4533 3200 / 238

CIN-L67190MH1993PLC071691

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(iii) Deployment of un-utilized public issue proceeds:

Sr. No.	Name of the Bank	Type of account	Type of account	Type of account	Amount in Rs. crore	Amount in Rs. crore	Source of information / certifications considered by Monitoring Agency for preparation of report	Source of information / certifications considered by Monitoring Agency for preparation of report	Source of information / certifications considered by Monitoring Agency for preparation of report
1	ICICI Bank	Rights Issue Allotment account			0.82		Chartered Accountant certificate*, Bank statements
2	ICICI Bank	Monitoring Account			0.53		Chartered Accountant certificate*, Bank statements
**Total **					1.35
Chartered Accountant certificate from MRM & Co.				dated November 1, 2022
Sr. No.	Type of instrument and name of the entity invested in		Amount invested	Maturity date		Earning		Return on Investment (%)	Market Value as at the end of quarter*
1.	Fixed Deposit (ICICI Bank)		35.00	October 1, 2022		0.5		3.50%	35.05

Verified from bank statements and Chartered accountant certificate from MRM & Co. dated November 1, 2022

(iv) Delay in implementation of the object(s): Not applicable

• 5) Details of utilization of proceeds stated as General Corporate Purpose (GCP) amount in the offer document: Nil as on September 30, 2022

CARE Ratings Limited

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4th Floor, Godrej Coliseum, Somaiya Hospital Road, Off Eastern Express Highway, Sion (East), Mumbai - 400 022 Phone: +91-22-6754 3456 Email: care@careedge.in • www.careedge.in

E-1, 13th Floor, Videocon Tower, Jhandewalan Extension, New Delhi – 110055 Phone: +91-011-4533 3200 / 238

CIN-L67190MH1993PLC071691