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 USDPowered by Capital Market - Live News

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. Powered by Capital Market - Live News

Aurionpro Solutions will hold a meeting of the Board of Directors of the Company on 8 April 2024.Powered by Capital Market - Live News

Aurionpro Solutions announced a significant order win from the State Bank of India (SBI) for the license, implementation and support of iCashpro+, its next-gen cash management and transaction banking platform. This highly prestigious win, valued close to Rs 100 crore includes license and implementation, to be delivered in phases over 12 months, followed by maintenance and support for 6 years.  Aurionpro`s iCashpro+ solution is built on modern cloud technology and a micro services based architecture which incorporates the latest market features, rendering it highly configurable, parameterized, resilient, scalable, and agile. This will seamlessly integrate with SBI`s core banking systems, Payments Hub, and a myriad of internal and external platforms. This integration will enable interoperability with leading ERP solutions, fintechs, and open banking platforms, empowering SBI to meet evolving customer expectations and industry standards. Powered by Capital Market - Live News

Aurionpro Solutions announced a significant order win from the Government of Haryana to roll out its ambitious Haryana Antyodaya Parivar Parivahan Yojana (HAPPY) Scheme. This transformative initiative aims to provide free public transportation services to individuals living below the poverty line within the state. Through the issuance of open-loop National Common Mobility Cards (NCMC), eligible individuals will enjoy seamless and free travel upto 1000 km per year per member of the covered family. Aurionpro is honoured to be entrusted with the implementation of this pivotal project which includes phased issuance of open loop NCMC cards to the entire covered population. Aurionpro is a prominent provider of open-loop technology solutions and will serve as the technology partner for this project, while AU Small Finance Bank joins as the banking partner for card issuance.The initial phase of this extensive multi-year project, valued close to Rs 100 crore, is scheduled for delivery within six months, with subsequent maintenance services to follow thereafter.Powered by Capital Market - Live News