Comments
Aurionpro Solutions Pte Ltd , a wholly-owned subsidiary of Aurionpro Solutions (Aurionpro), has entered into an agreement for acquisition of majority stake (51 per cent) in SC Soft Pte Ltd, a Singapore-headquartered automated fare collection (AFC) and smart city solutions provider. Aurionpro will make investments in tranches by subscribing to the fresh equity shares to be issued by SC Soft and will acquire majority stake by December 2019, along with right to acquire the balance 49 per cent stake thereafter. Currently, Aurionpro is subscribing to 6.19 lakh new equity shares issued by SC Soft, which will take the effective holding of Aurionpro to 26.70 per cent of the total equity of SC Soft. The total investment for 51 per cent will be $5 million. The investments by Aurionpro will be used to expand the R&D capabilities and ramp up global sales of SC Soft. Shares of Aurionpro tumbled 5.34 per cent at ₹155.05 on the BSE.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.