9 Sept 2022 , 02:06 PM
TAS is a Delhi-based company that provides innovative products and solutions in the Mass Transit, Industrial, and Public Safety segments.
Aurionpro has placed itself as a major worldwide provider of next-generation solutions in the Mass Transit arena, and this purchase will considerably strengthen its capabilities to be a fully integrated end-to-end provider across the value chain.
This acquisition, which was announced in FY22 following the signing of the definitive agreement, was designed to be completed in tranches through a combination of subscription and acquisition. Therefore, it is partly through subscription of new equity to be issued by TAS and the remainder through the acquisition of equity stakes from existing shareholders.
As a result, Aurionpro has completed the acquisition of its majority ownership in TAS, which has now been renamed as Aurionpro Toshi Automatic Systems (ATAS). The Rs14 crore acquisition was wholly funded via internal accruals.
"The combination of cutting-edge technology solutions in Aurionpro's targeted segments and ATAS manufacturing capabilities will generate a powerful market proposition, positioned ideally to capitalise on the Government's 'Make in India' drive,” commented Paresh Zaveri, CMD — Aurionpro.
For feedback and suggestions, write to us at editorial@iifl.com
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Securities Support WhatsApp Number
+91 9892691696
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.