Multibagger stock engaged in the business of providing business solutions in the fields of Transaction Banking Platforms, Customer Experience, Smart City, and many more hit a 5 percent upper circuit following the acquisition of a majority stake in Arya.ai.
With a market capitalization of Rs. 6,048 Crores, the shares of Aurionpro Solutions Limited hit a 5 percent upper circuit in the day’s trade at Rs. 2,437.45.
Aurionpro Solutions Limited’s board of directors has approved the strategic acquisition of a majority stake of 67 percent in the Mumbai-based Banking and Insurance PaaS startup, Arya.ai.
By integrating Arya.ai’s cutting-edge AI cloud platform, with Aurionpro’s comprehensive suite of offerings, the company intends to create an industry-leading Enterprise AI platform sharply focused on creating value for financial institutions globally.
This acquisition will bring products and expertise in Artificial Intelligence, Deep Learning, Intelligent Automation, PaaS, Autonomous AI Platforms, and tailored industry solutions, to complement and strengthen Aurionpro’s existing industry-leading portfolio as 100+ Banks and Insurers across Asia trust Arya.ai Enterprise AI solutions.
The transaction comprises the acquisition of shares held by the existing shareholders and the subscription of new equity capital in the company. This will be an all-cash deal and the aggregate investment including secondary acquisition and fund infusion is approximately Rs. 135.20 Crores
Aurionpro Solutions Limited is a global technology solutions company engaged in the business of providing business solutions in the fields of Transaction Banking Platforms, Customer Experience, Smart City, Smart Transportation experience, and Cybersecurity solutions
Its revenue from operations grew by 37.5 percent from Rs. 168 Crores in Q3FY23 to Rs. 231 Crores in Q4FY24, accompanied by profits of Rs. 26 Crores to Rs. 38 Crores.
Written by: Bharath K.S
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