Aurionpro Solutions Limited: Fundraising Announcement Overview

Aurionpro Solutions Limited: Discover how Aurionpro Solutions Limited successfully raised funds through equity shares, including key details and implications.

Introduction to Aurionpro Solutions Limited

Aurionpro Solutions Limited, a leading technology solutions provider, recently made a significant announcement regarding its fundraising activities. This article delves into the details of the announcement, shedding light on the key aspects of the fundraising initiative and its implications.

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Details of the Fundraising Issue

Opening and Closing Dates

The fundraising issue initiated by Aurionpro Solutions Limited commenced on April 3, 2024, and concluded on April 8, 2024.

Approval by Fundraising Committee

On April 8, 2024, the Fundraising Committee convened a meeting and approved the issue and allotment of equity shares.

Issue Price and Premium

The issue price of the equity shares was set at ₹ 2,000 per share, including a premium of ₹ 1,990 per share.

Discount Offered

An attractive discount of ₹ 103.68 per equity share, equivalent to 4.93% of the floor price, was extended to the investors.

Total Amount Raised

The fundraising initiative resulted in a total aggregation of ₹ 377,73,30,000, amounting to Three Hundred Seventy-Seven Crores Seventy-Three Lakhs Thirty Thousand Rupees.

Allotment of Equity Shares

Number of Shares Allotted

The Fundraising Committee approved the allotment of 18,88,665 equity shares to eligible qualified institutional buyers.

Paid-up Capital Increase

Following the allotment, the paid-up equity share capital of Aurionpro Solutions Limited increased from ₹ 25,71,81,000 to ₹ 27,60,67,650.

Implications on Shareholding Pattern

The company will submit the revised shareholding pattern, reflecting the changes post-issue, as per the format specified in Regulation 31 of the SEBI Listing Regulations.

Listing Application Procedure

Aurionpro Solutions Limited will proceed with the listing application, adhering to regulatory requirements and submitting the necessary documentation.

Conclusion

In conclusion, the fundraising initiative undertaken by Aurionpro Solutions Limited has been successful, with significant participation from qualified institutional buyers. The company’s decision to issue equity shares at an attractive price and premium, coupled with the discount offered, has garnered investor interest and resulted in substantial capital inflow. The increase in paid-up capital and the forthcoming submission of the revised shareholding pattern underscore the company’s commitment to transparency and regulatory compliance.

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FAQs

1. How was the issue price of Aurionpro Solutions Limited determined?
   • The issue price was determined considering various factors, including market conditions, company valuation, and regulatory guidelines.
2. Who are eligible qualified institutional buyers?
   • Eligible qualified institutional buyers typically include mutual funds, insurance companies, banks, and other financial institutions meeting specific criteria defined by regulatory authorities.
3. What are the implications of the paid-up capital increase for existing shareholders?
   • The increase in paid-up capital may dilute the ownership percentage of existing shareholders unless they participate in the fundraising initiative.
4. How will the proceeds from the fundraising be utilized by Aurionpro Solutions Limited?
   • The company may utilize the proceeds for various purposes, including business expansion, research and development, debt repayment, or working capital requirements, as outlined in the prospectus.
5. When can investors expect the revised shareholding pattern to be disclosed?
   • Aurionpro Solutions Limited will submit the revised shareholding pattern along with the listing application, as per regulatory requirements.

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