This strategic acquisition will bolster Aurionpro’s lending solutions with comprehensive loan management expertise and 150+ banking clients.
At 1:30 pm today, Aurionpro Solutions shares were trading at Rs 1,422, up 2.21% from their previous closing of Rs 1,391.25.
Aurionpro Solutions purchased a business consisting of a comprehensive loan management system to complement and enhance its portfolio of industry-leading Lending Solutions. The transaction involves Aurionpro purchasing Omnifin, a loan management system catering to 45+ banks and financial institutions in the Indian domestic market, from A S Software Services, a company based in NOIDA, India.
This acquisition covers the purchase of the entire business, as a going concern, covering all the assets & liabilities of the target business including the intellectual properties, 150+ employees & contracts and such transfer and payment of consideration will be governed by the Business Transfer Agreement (BTA) between the parties. The total deal is valued at close to Rs 82 crore, to be paid in cash.
Established in 1997, Aurionpro Solutions Limited works in providing business solutions in the fields of Transaction Banking Platforms, Customer Experience (ACE Platform), Smart City and Smart Transportation experience and Cybersecurity solutions. The company primarily offers software products and consulting services to the banking industry in India and abroad.
On Thursday, the share of Aurionpro Solutions opened at Rs 1379.90 and touched a high and low of Rs 1,425 and Rs 1,379.90, respectively. The BSE group ‘T’ stock of face value of Rs 10 has a 52-week high and low of Rs 1,455 and Rs 291, respectively.
Last one week high and low of the scrip stood at Rs 1,455 and Rs 1,325 respectively. The current market cap of the company is Rs 3,427.04 crore. The promoters holding in the company stood at 31.19%, while Institutions and Non-Institutions held 3.13% and 65.68% respectively.
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