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Aurionpro Solutions Ltd. — Capital/Financing Update 2022
Jun 10, 2022
60353_rns_2022-06-10_39718550-9975-49ac-9ece-4acf071fc96f.pdf
Capital/Financing Update
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10[th] June,2022
To, Deptt. Of Corporate Services- Listing National Stock Exchange of India Limited Exchange Plaza, Plot no. C/1, G Block, Bandra-Kurla Complex, Bandra (East) Mumbai – 400051.
Sub: Press Release
Dear Sir/Madam,
In continuation of our Press release titled “ Aurionpro signs up to acquire balance stake in SC Soft, making it a wholly owned subsidiary” dated 10[th] June,2022, we are enclosing herewith revised announcement along with additional details as per SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Kindly take this on your record.
Thanking you,
Yours faithfully
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Phone +91 22 4040 7070 [email protected] Fax +91 22 4040 7080 www.aurionpro.com CIN: L99999MH1997PLC111637
Aurionpro Solutions Limited
Synergia IT Park, Plot No. R-270, T.T.C. Industrial Estate, Gautam Nagar, Near Rabale Police Station, Rabale, Navi Mumbai 400701. MH-India.
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Aurionpro signs up to acquire balance stake in SC Soft, making it a wholly owned subsidiary
Aurionpro is happy to announce 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. This increase in stake enables complete management control and integration of SC Soft with Aurionpro. The deal, for the balance 49% stake, is valued at US$ 4.99 Million (approximately INR 38 Crores). Further, Aurionpro has also invested INR 9 Crores 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.
Mr. Sanjay Bali - President , Aurionpro on the acquisition said that 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 ATASPL 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.
About Aurionpro:
Aurionpro Solutions (NSE: AURIONPRO) (BSE: 532668) is a global technology solutions leader that helps enterprises accelerate their digital innovation, securely and efficiently. It combines core domain expertise, thought leadership in innovation, security and leverages industry leading IP to deliver tangible business results for global corporations. Employing more than 1,350 domain and technology experts across Latin America, Asia and Europe, Aurionpro caters to a host of clients across BFSI, Telecom and Logistics industry. For more information, visit www.aurionpro.com.
For more information, please contact: Mr. Ninad Kelkar | [email protected]
Phone +91 22 4040 7070 [email protected] Fax +91 22 4040 7080 www.aurionpro.com CIN: L99999MH1997PLC111637
Aurionpro Solutions Limited
Synergia IT Park, Plot No. R-270, T.T.C. Industrial Estate, Gautam Nagar, Near Rabale Police Station, Rabale, Navi Mumbai 400701. MH-India.
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Disclosure of events as per Regulation 30 (2) read with Part A of Part A of Schedule III
| a) | Name of the target entity, details in brief such as size, turnover etc. |
SC Soft PTE LTD (“SC Soft”) is a Singapore headquartered company incorporated under the laws of Singapore having its Registered Office at 438B Alexandra Road,#01-08,Alexandra Technopark, Singapore -119968 SC Soft was founded in 2009. SC Soft has its offices in Canada and Malaysia and has a team of more than hundred people and has it is own R&D center and with a consolidated turnover of 2166.23 Lakhs as on 31stMarch 2022. |
|---|---|---|
| b) | Whether the acquisition would fall within related party transaction(s) and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at “arms length” |
The proposed acquisition does not fall within the related party transactions and none of the promoter/ promoter group/ group companies have any interest in the entity being acquired. |
| c) | Industry to which the entity being acquired belongs |
Information Technology (Automated Fare Collection System, based on open loop technology) |
| d) | Objects and effects of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity) |
The market for Automated Fare Collection (AFC) business is growing rapidly.SC Soft is looking at rapid expansion of business by winning of prestigious orders in this segment. With this acquisition, SC Soft will fully integrate with Aurionpro and this together with the acquisition of controlling stake in Aurionpro Toshi Automatic Systems Pvt. Ltd by the end of this quarter (June-2022) will strengthen our profile as an only integrated player in the AFC segment. |
| e) | Brief details of any governmental or regulatory approvals required for the acquisition |
No governmental or prior regulatory approvals are required for the acquisition. |
| f) |
Indicative time period for completion of the acquisition |
With signing of the agreements, Aurionpro has already increased it’s stake up to 90% of Equity share capital of SC Soft and balance 10% stake will be completed in various tranches upto 31stDecember 2022. |
| g) | Nature of consideration - whether cash consideration or share swap and details of the same |
Cash Consideration |
| h) | Cost of acquisition or the price at which the shares are acquired |
USD 4.99 Million (Approx 38 Cr.) towards acquisition of entire 49% stake in SC Soft |
| i) |
Percentage of shareholding / control acquired and / or number of shares acquired |
Aurionpro now holds 90% of Equity share capital of SC Soft representing 31,34,814 shares in SC Soft through it’s wholly owned subsidiary Aurionpro Solutions Pte Ltd. Balance 10% stake will be transferred to Aurionpro by 31stDecember,2022. |
| j) |
Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief) |
SC Soft was founded in 2009 and is head quartered in Singapore. It has the product range on hardware and software for mobility industry based on the open loop technology. It has successfully implemented Automated Fare Collection Systems (AFCS) in the select markets for various mass transport systems across Asia, North America, Maldives etc. SC Soft is having its offices in Canada and Malaysia and has a team of more than hundred people having it is own R&D center. SC Soft has proprietary front end hardware and software components |
Phone +91 22 4040 7070 [email protected] Fax +91 22 4040 7080 www.aurionpro.com CIN: L99999MH1997PLC111637
Aurionpro Solutions Limited
Synergia IT Park, Plot No. R-270, T.T.C. Industrial Estate, Gautam Nagar, Near Rabale Police Station, Rabale, Navi Mumbai 400701. MH-India.
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required for the AFC and payment solution for the industry. SC Soft has also formed partnerships and alliances in various markets and has active participation in OSPT alliance for mass public transportation. The details of Turnover for last 3 years: Financial Year ended Amount in Lakhs on 31[st] March 2022 2166.23 31[st] March 2021 1446.83 31[st] March 2020 482.44
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Phone +91 22 4040 7070 [email protected] Fax +91 22 4040 7080 www.aurionpro.com CIN: L99999MH1997PLC111637
Aurionpro Solutions Limited
Synergia IT Park, Plot No. R-270, T.T.C. Industrial Estate, Gautam Nagar, Near Rabale Police Station, Rabale, Navi Mumbai 400701. MH-India.