Realty portal may divest its stakes


The Prople Group-venture is likely to part-sell its stakes, and and online web and mobile classifieds company Quikr are believed to be in talks with the promoters for the purpose.

According to reports, the promoters of the real estate portal are likely to either outright sell its entire stake, or enter into a joint venture with a new backer, which could see the promoters divest up to 50 percent of their ownership. It will also have a long-term payout component built into the agreement.

However, Anupam Mittal, the founder and promoter of People Group, hasn’t divulged any information on the developments yet.

The People Group is backed by risk capital investors, such as Sequoia Capital, Saama Capital, Citibank and Intel Capital.

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