Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

Aurionpro signs Strategic Investment Deal in the Smart Transport System Domain

Posted On: 2018-10-17 10:28:18

Aurionpro Solutions Pte Ltd., a wholly owned subsidiary of Aurionpro Solutions Umrted (Aurionpro), has entered into an agreement for acquisition of majority stake (51%) in SC Soft Pte. Ltd. (SC Soft) a Singapore headquartered Automated Fare Collection (AFC) and smart city solution provider. Aurionpro will make investment in tranches by subscribing to the fresh equity shares to be issued by the SC Soft and will acquire majority stake by December 2019 and will have a right to acquire balance 49% stake thereafter. Currently, Aurionpro is subscribing to 619,500 number of new equity shares issued by SC Soft which will take effective holding of Aurionpro to 26.70% of the total equity of SC Soft. The total investment for 51% will be US$ 5mn. The investments by Aurionpro will be used to expand R&D capabilities and ramp up global sales of SC Soft.

SC Soft, founded in 2009 and headquartered in Singapore, has established product offering for AFC based on the open loop technology. It has successfully implemented Automated Fare Collection Systems in the select markets for various mass transport systems across Asia, Russia and Mexico. Having offices in Singapore, Canada, Malaysia and India and with a team of more than hundred people globally and significant investments in R&D, SC Soft is one of the few global players to have end to end open loop solution in a market where most established players as well as operators work on close loop systems. Additionally, SC Soft has a strong team which focus on smart city solutions across Asia region.

Since, Aurionpro is an established player in mobility business and has won Maha Metro - Nagpur and Noida Metro, to provide Automated Fare Collection {AFC) system based on an open loop technology, the acquisition will attract synergies in terms of offerings and execution. In both these projects Aurionpro is in consortium with the State Bank of India (SBI) and SC Soft. Further, Aurionpro is participating in other mobility businesses across India and will further expand its reach in the global markets.

Automated Fare Collection Systems market has high growth potential driven by contactless payment solutions and smart phones. AFC ls estimated to reach US$ 10. 1 billion by 2022, growing at a CAGR of 13.2% between 2016 and 2022 (Source: Alhed Market Research, May 2016). The Asia Pacific market Is expected to be one of the fastest growing markets in terms of value, growing at a CAGR of 14.5% between 2016-2022 (Source: "World Automated Fare Collection System Market" - Allied Market Research, May 2016). In India as well, many state governments have undertaken projects to build metro railways to improve transport systems for commuters In metro cities and urban areas and also upgrade the bus transport systems for interstate as well as Intra-state transport.

Aurionpro with its reach across multiple geographies, expertise in Implementing AFC Solutions, deep domain knowledge of payments systems and Its ACE platform will be able to offer cloud based open loop solution making it only Indian player with end to end capabilities for executing the same. The strategic Investment by Aurionpro in SC Soft will further strengthen its offerings and leadership in the AFC Segment.

Paresh Zaveri, CMO Aurionpro said "SC soft has been our partner in executing Noida and Nagpur projects. They bring in world class capabilities, experience and thought leadership m the AFC domain. The acquisition of SC Soft will be a strategic milestone as It will help Aurionpro strengthen Its leadership in the rapidly growing AFC Market as It will establish Aurionpro as a one stop shop having necessary end to end hardware and software required for the implementation of the AFC Systems."

Shares of AURIONPRO SOLUTIONS LTD. was last trading in BSE at Rs.160.5 as compared to the previous close of Rs. 161.75. The total number of shares traded during the day was 680 in over 28 trades.

The stock hit an intraday high of Rs. 168 and intraday low of 160.5. The net turnover during the day was Rs. 112365.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Siemens Ltd Board Recommends Dividend of Rs. 7 for 2018

HDFC disburses over Rs 1,100 crs subsidy to 51,000 first time home buyers under PMAY Scheme

YES BANK'S Overall Long-term Rating of 'ICRA AA+' Retained by ICRA Ratings

Seamec Ltd announces contract for SEAMEC Princess for 7 days

Rajesh Exports Ltd announces Q2 FY19 results

Gravita India Limited revenue up by 30% to 292.72 crores in Q2 FY19

MRPL H1 FY'19: Net Profit INR 281 crore and GRM of 6.29 $/bbl against 6.30 $/bbl on HoH

Polyplex Corporation Ltd Board declares Interim Dividend of Rs. 10 for 2018-19

Astral Poly Technik Ltd Board declares Interim Dividend of Rs. 0.30 for 2018-19

Sandur Manganese & Iron Ores Ltd board declares interim dividend of Rs. 3.5 for 2018-19

Renascent Power Signs SPA to acquire 75.01% stake in Prayagraj Power Generation Company Limited

Siemens Ltd. announces Q4 FY 2018 results

G G Automotive Gears Ltd Q2 PAT higher at Rs. 1.04 crore

Dhabriya Polywood Ltd Q2 net profit drops to Rs. 1.43 crore

Rama Paper Mills Ltd Q2 net profit jumps to Rs. 2.72 crores

GPT Infraprojects Ltd Q2 consolidated net profit falls to Rs. 2.86 crore

Rajesh Exports Ltd Q2 net profit at Rs. 31.48 crores

Urbanknitt Fabs Ltd posts consolidated Q2 net profit of Rs. 0.15 crore

Gravita India Ltd Q2 FY19 consolidated PAT slides to Rs. 6.37 crores

RTS Power Corporation Ltd Q2 net profit higher at Rs. 1.29 crore

Sreeleathers Ltd Q2 net profit climbs to Rs. 13.67 crores

GSL Nova Petrochemicals Ltd Q2 net profit climbs to Rs. 3.62 crores

Vallabh Steels Ltd Q2 net profit up at Rs. 0.20 crore

Vedavaag Systems Ltd Q2 net profit at Rs. 2.47 crores

Reliance Infrastructure Ltd Q2 net profit at Rs. 277.19 crores

Mansi Finance Chennai Ltd Q2 PAT climbs to Rs. 3.28 crores

Rohit Ferro-Tech Ltd Q2 FY19 loss at Rs. 38.33 crores

Genesys International Corporation Ltd Q2 net profit declines to Rs. 2.35 crores

Kanishk Steel Industries Ltd up at Rs. 1.01 crore

Mount Shivalik Industries Ltd posts loss of Rs. 1.97 crore

Ruttonsha International Rectifier Ltd posts five-fold rise in net profit during Q2 FY19

Confidence Petroleum India Ltd Q2 consolidated PAT higher at Rs. 16.20 crores

NBCC India Ltd reports net profit of Rs. 72.76 crores in Q2 FY19

Freshtrop Fruits Ltd Q2 PAT at Rs. 1.25 crore

Chordia Food Products Ltd Q2 net profit drops to Rs. 0.72 crore

B C Power Controls Ltd posts lower Q2 FY19 PAT of Rs. 0.64 crore

Kridhan Infra Ltd H1 FY2019 consolidated PAT slips to Rs. 29.01 crores

Chaman Lal Setia Exports Ltd Q2 FY19 PAT slides to Rs. 7.71 crores

Prakash Constrowell Ltd Q2 net profit lower at Rs. 1.05 crore

Dynamatic Technologies Ltd consolidated Q2 net profit higher at Rs. 8.32 crores

Modern Insulators Ltd Q2 net profit jumps to Rs. 6.34 crores

Kerala Ayurveda Ltd posts PAT of Rs. 0.68 crore in Q2 FY19

Mitsu Chem Plast Ltd reports H1 Net Profit of Rs. 1.39 crore

Career Point Ltd announces Q2 FY19 results

HCL Technologies celebrates 10 years of success in the Nordics

NLC India Ltd announces results for the period ended Sept 30, 2018

Bharat Road Network reports revenue growth of 121% in H1 FY19

DEN Networks Ltd's Consolidated EBITDA for Q2 improves to Rs 50 crs Vs Rs 47 crs in Q1 FY19

Industrial & Prudential Investments Company Ltd Q2 PAT soars to Rs. 1.31 crore

Sharda Ispat Ltd Q2 net profit rises to Rs. 1.42 crore







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2018