Aurionpro signs up to acquire balance stake in SC Soft, making it a wholly owned subsidiary

Aurionpro has announced increase in its stake in SC Soft Pte Ltd (SC Soft) upto 90% with a commitment to complete acquisition of balance 10% by December 31, 2022. This increase in stake enables complete management control and integration of SC Soft with Aurionpro. The deal, for the balance 49% stake, is valued at US$ 4.99 Million (approximately INR 38 Crores). Further, Aurionpro has also invested INR 9 Crores in Aurionpro Toshi Automatic Systems Pvt Ltd. (ATASPL) and will complete acquisition of 51% stake therein by the end of this month. All these acquisitions will be funded through internal accruals.

Mr. Sanjay Bali - President, Aurionpro on the acquisition said that the market for AFC business is growing rapidly and we have won some prestigious orders in this segment this year. This acquisition will fully integrate SC Soft with Aurionpro. Further, we will also complete acquisition of controlling stake in ATASPL by the end of this quarter which will strengthen our profile as an only integrated player in the AFC segment and we can leverage this position to seize immense opportunities in the growing market.

Shares of Aurionpro Solutions Limited was last trading in BSE at Rs. 315.15 as compared to the previous close of Rs. 316.30. The total number of shares traded during the day was 2060 in over 226 trades.

The stock hit an intraday high of Rs. 320.30 and intraday low of 305.10. The net turnover during the day was Rs. 651112.00.

Source : Equity Bulls

Keywords

AurionproSolutions INE132H01018 StakeIncrease SCSoft