Aurionpro Solutions to acquire balance stake in SC Soft, making it a wholly-owned subsidiary

10 Jun 2022 , 12:00 PM

Aurionpro Solutions Ltd has announced the 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.

In an official statement, company said, “This increase in stake enables complete management control and integration of SC Soft with Aurionpro. The deal is valued at US$ 4.99 Million (approximately Rs38 crore). Further, Aurionpro has also invested 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.

Sanjay Bali – President, Aurionpro on the acquisition said, “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 Aurionpro Toshi Automatic Sytems Pvt. Ltd 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.”

At around 12 PM, Aurionpro Solutions was trading at Rs319.90 apiece up by Rs3.6 or 1.14% from its previous closing of Rs316.30 apiece on the BSE.