Aurionpro Solutions soars on acquiring majority stake in Toshi Automatic Systems
Aurionpro Solutions is currently trading at Rs. 349.50, up by 6.15 points or 1.79% from its previous closing of Rs. 343.35 on the BSE.
The scrip opened at Rs. 336.65 and has touched a high and low of Rs. 353.00 and Rs. 335.50 respectively. So far 6316 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 390.40 on 18-Jan-2022 and a 52 week low of Rs. 184.35 on 27-Sep-2021.
Last one week high and low of the scrip stood at Rs. 353.00 and Rs. 322.95 respectively. The current market cap of the company is Rs. 797.55 crore.
The promoters holding in the company stood at 33.00%, while Institutions and Non-Institutions held 1.09% and 65.91% respectively.
Aurionpro Solutions has acquired majority stake (51%) in Toshi Automatic Systems (TAS), a Delhi based company and provider of innovative products and solutions in Mass Transit, Industrial and Public Safety segments. Aurionpro has established itself as a leading global provider of next generation solutions in Mass Transit space and this acquisition will significantly enhance its capability to be an integrated end-to-end provider across the value chain. This acquisition, announced in FY22 upon signing of the definitive agreement, was structured to complete in tranches, through combination of subscription and acquisition, that is, partly by subscription of fresh equity to be issued by TAS and the rest by acquiring the equity stakes from existing shareholders.
Accordingly, Aurionpro has now completed the acquisition of its majority stake in TAS, and the same has now been renamed as Aurionpro Toshi Automatic Systems (ATAS). The acquisition valued at Rs 14 crore, was entirely funded through internal accruals.
Aurionpro Solutions is an advanced technology solutions company catering to the needs of the banking, mobility, payments and government sectors.
