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Another Induslaw tech start-up, PropTiger, grows up with $30m injection from Rupert Murdoch’s News Corp, again opposite AZB

Induslaw advised Elara Technologies – the start-up that runs real estate portal PropTiger - on US media behemoth News Corp’s first investment in India with an infusion of $30m for picking up a 25 per cent stake in Elara. News Corp was advised by AZB & Partners.

Induslaw Bangalore partner Srinivas Katta and associates Priyanka Chandrashekhar and Anindiya Ghosh acted for Elara.

AZB Mumbai partner Shuva Mandal acted for News Corp.

Singapore firm Rajah & Tann also assisted Induslaw in a limited role, led by partner Teo Yi Jing and associate Benjamin Liew Associate.

Before foraying into the Indian realty segment News Corp owned a US online realtor Move and a majority stake in an Australian realtor REA, reported Tech Crunch.

Legally India yesterday reported the same pairing but different partners – Induslaw for the company and AZB for the investors – as having acted on two-year-old start-up Olacabs’ $200m investment by Softbank.

Induslaw partner Gaurav Dani yesterday explained to Legally India the firm’s strategy of targeting start-up clients while keeping the relationship going through various stages of investments.

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