Aurionpro Solutions Ltd Share Price – NSE  /  BSE

IT - Software, Small Cap

The domestic equity benchmarks traded with substantial gains in mid-afternoon trade. The Nifty traded near the 22,050 mark after hitting the day's low of 21,777.65 in early trade. Financial services shares advanced after declining for the fourth consecutive trading session.

At 14:26 IST, the barometer index, the S&P BSE Sensex, was up 527.11 points or 0.73% to 73,016.10. The Nifty 50 index added 147.70 points or 0.67% to 22,143.55.

In the broader market, the S&P BSE Mid-Cap index shed 0.40% while the S&P BSE Small-Cap index gained 0.12%.

The market breadth was negative. On the BSE, 1,720 shares rose and 2,005 shares fell. A total of 130 shares were unchanged.

Politics:

India is gearing up for its election in 2024. The BJP is looking to consolidate its grip on power as it aims for a historic third term while a band of opposition parties, including the Congress, has formed a united front called INDIA to deny PM Modi another victory. The elections will occur in 7 phases, starting on 19 April and ending on 1 June. The Lok Sabha elections 2024 results will declared on 4 June.

Buzzing Index:

The Nifty financial services index slipped 1.11% to 21,132.25. The index has rallied 2.89% in the past four trading sessions.

Bajaj Finance (up 2.14%), HDFC Bank (up 1.95%), Power Finance Corporation (up 1.09%), IDFC (up 1.07%) and Bajaj Finserv (up 0.96%), ICICI Bank (up 0.96%), Kotak Mahindra Bank (up 0.52%), State Bank of India (up 0.38%), LIC Housing Finance (up 0.36%) and Axis Bank (up 0.27%) advanced.

On the other hand, ICICI Prudential Life Insurance Company (down 2.5%), HDFC Asset Management Company (down 0.99%) and HDFC Life Insurance Company (down 0.82%) declined.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.53% to 7.218 from previous close of 7.180.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.5200, compared with its close of 83.5250 during the previous trading session.

MCX Gold futures for 5 June 2024 declined 0.12% to Rs 72,595.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.05% to 106.10.

The United States 10-year bond yield declined 1.40% to 4.584.

In the commodities market, Brent crude for June 2024 settlement rose 5 cents or 0.06% to $87.16 a barrel.

Stocks in Spotlight:

Aurionpro Solutions was locked in upper circuit of 5% after its board approved acquisition of 67% stake in Mumbai-based banking and insurance focused PaaS startup, Arya.ai, operated through legal entity Lithasa Technologies.

Motilal Oswal Financial Services rallied 7.60% after the company said that its board will meet on Friday, 26 April 2024, to consider a proposal for declaration of bonus equity shares.

Vesuvius India added 3.92% after the firm inaugurated a new mould flux manufacturing plant in Visakhapatnam with an increase in investment outlay to upto Rs 1,000 crore to further strengthen its manufacturing capabilities in India.

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With Arya.ai, Aurionpro will enhance its portfolio of enterprise fintech offerings to expedite the adoption of AI that is responsible, accurate, and auditable, aligning strongly with the rapidly evolving demands of banks and insurers.

Under the terms of the agreement, Aurionpro will acquire 67% in Arya.ai. This acquisition will bring products and expertise in AI, deep learning, intelligent automation, PaaS, autonomous AI platforms, and tailored industry solutions, to complement and strengthen Aurionpro’s existing industry leading portfolio. Arya.ai Enterprise AI solutions are trusted by more than 100 banks and insurers across Asia.

The transaction comprises acquisition of shares held by the existing shareholders and subscription of new equity capital in the company. The aggregate investment including secondary acquisition and fund infusion is approximately $16.5 million or Rs 135.20 crore.

By integrating Arya.ai’s AI cloud platform, with Aurionpro's comprehensive suite of offerings, the company stated that it intends to create an industry leading enterprise AI platform sharply focused on creating value for financial institutions globally.

Leveraging Arya.ai’s expertise in AI solutions and comprehensive governance tools will greatly accelerate Aurionpro’s vision of creating the next generation of highly differentiated software that leads the industry in helping financial Institutions realize true business value from Enterprise AI, added the IT company.

Lithasa Technologies is a private limited company incorporated on 11 October 2013, primarily engaged in the business of providing pre-trained machine learning models such as APIs and finetuning ML models for banks, insurers, and financial services. The company recorded a turnover of Rs 20.50 crore during the FY 2023-24.

Aurionpro Solutions is an advanced technology solutions company catering to the needs of the banking, mobility, payments and government sectors.

The company's consolidated net profit rose 13.34% to Rs 37.55 crore on 9.28% increase in net sales to Rs 230.75 crore in Q3 FY24 over Q2 FY24.

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Aurionpro Solutions announced the strategic acquisition of Mumbai-based Banking and Insurance focused PaaS startup, Arya.ai. With Arya.ai, Aurionpro will significantly enhance its portfolio of enterprise fintech offerings to expedite the adoption of AI that is responsible, accurate, and auditable, aligning strongly with the rapidly evolving demands of Banks and Insurers.

Under the terms of the agreement, Aurionpro Solutions will acquire a majority stake (67%) in Arya.ai. 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. Arya.ai Enterprise AI solutions are trusted by 100+ Banks and Insurers across Asia. The transaction comprises acquisition of shares held by the existing shareholders and subscription of new equity capital in the company. This will be an all-cash deal. The aggregate investment including secondaryacquisition and fund infusion is approximately 16.5 MN USD

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Aurionpro Solutions has allotted 18,88,665 equity shares to the eligible qualified institutional buyers at the issue price of Rs 2,000/- per equity share (including a premium of Rs 1990/- per equity share), (which takes into account a discount of Rs 103.68/- per equity share representing 4.93% to the floor price of Rs 2,103.68 per equity share, as determined in terms of the SEBI ICDR Regulations), aggregating to Rs 377.73 crore pursuant to the QIP issue.

Post allotment, the paid up equity share capital has increased to Rs 27,60,67,650 consisting of 2,76,06,765 equity share.

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