Aurionpro sets up new subsidiary in Istanbul through step-down subsidiary SC Soft; stock trades marginally lower

8 Mar 2022 , 01:38 PM

Aurionpro Solutions Limited announced the setting up of a wholly-owned subsidiary in Istanbul, Turkey. The subsidiary shall focus primarily on the smart mobility segment, particularly the Automated Fare Collection (AFC) business, and will cater to the rapidly growing markets spread across the Western Asian as well as European countries.

The company’s presence in the region will enable it to get hold of the talent pool based in the region and will strengthen rapid expansion in the newer markets.

Mr. Sanjay Bali, CEO of SC Soft, while making this announcement said that “the recent trend after pandemic suggests increased traction in AFC segment across the globe. With the acquisition of a controlling stake in Toshi Automatic and further integration of SC Soft with Aurionpro, we are in a good place to tap opportunities in various markets. The setting up of operations in Turkey is a step in that direction which will enable us to expand our reach in European as well as Asian markets.”

Aurionpro Solutions is currently trading at Rs287.15 up by Rs0.2 or 0.07% from its previous closing of Rs286.95 on the BSE. It touched an intraday high and low of Rs294.75 and Rs284.60 respectively.