Monday 21 Jun, 2021 04:24 PM
Site map | Locate Us | Login
   Morgan Stanley Asia (Singapore) picks 0.58% stake in SBI Card    Bharat Dynamics slips after weak Q4 performance     Oriental Carbon & Chemicals Ltd leads losers in 'A' group    Palm Jewels Ltd leads losers in 'B' group    Volumes spurt at Timken India Ltd counter    Kiri Ind soars after SICC values Co's stake in DyStar at $481.6 mn    Capital Goods stocks edge lower    Information Technology stocks fall    Auto stocks slip    Power Grid Corporation of India Ltd stays slippery    Tata Motors Ltd drops for fifth straight session    State Bank of India drops for fifth straight session    CRISIL jumps 11% in three days    Route Mobile rises after parternship with Truecaller    Sun TV Network Ltd gains for fifth session 
Saravan Stocks
       
Hot Pursuit
Scrips, which has significant changes during the market hours.
Aurionpro announces exit from cybersecurity segment
07-May-21   08:34 Hrs IST

The deal, for the divestment of all stake held by Aurionpro in its cyber security business is valued at a consideration of US$9.6 Million (approx. Rs 71 crore) which is net off all taxes and obligations. Forcepoint LLC, USA is a global leader in data-first cybersecurity solutions.

Out of the total consideration, Rs 45 crore will be received upfront and remaining amount to be received in tranches over a year upon fulfilment of contractual warranties and earn out.

Necessary agreements for this purpose has been signed on 06th May, 2021 and the transaction will be concluded immediately after completion of the documentation, Aurionpro Solutions said.

The cash proceeds from this deal will help accelerate the company's plan to be effectively debt free by sometime after Q2 this year. The deal will also help financially as the strong and lean balance sheet is expected to significantly improve key performance indicators in the coming quarters, the company said.

Paresh Zaveri, CMD - Aurionpro Solutions while announcing the exit said that there was a long road ahead in scaling up the business in the wake of covid-19 related disruptions and political instability in the region where the company had signed key deal. The Covid-19 restrictions were causing inordinate delays in some large deals, particularly in the South Asian region.

The announcement was made after market hours yesterday, 6 May 2021. Shares of Aurionpro Solutions fell 1.55% to settle at Rs 159.20 yesterday.

Aurionpro Solutions is a global technology solutions leader that helps enterprises accelerate their digital innovation, securely and efficiently.

Powered by Capital Market - Live News

   Attention Investors : Prevent Unauthorized Transactions in your demat account --> Update your Mobile Number with your Depository Participant. Receive alerts on your Registered Mobile for all debit and other important transactions in your demat account directly from CDSL on the same day........issued in the interest of investors.
   Attention Investors : Prevent unauthorised transactions in your account Update your mobile numbers/email IDs with your stock brokers / Depository Participant. Receive information of your transactions directly from Exchange / Depositories on your mobile / email at the end of the day .... Issued in the interest of Investors.
   Attention Investors : KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
   Attention Investors : No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."
Email ID: info@ssplwealth.com       Customers grievances : grievances@ssplwealth.com     Compliance officer : Mr.G Anand , anand@ssplwealth.com
Hit Count : 17027551
SEBI Regn.Nos : NSE/BSE-INZ000192638 | CDSL : IN-DP-262-2016  |  MCX : INZ000081736
Member IDs : NSE : 11221 | BSE : 6292 | CDSL : 12045000 | MCX : 12815 | AMFI Regn.No : 2662
Designed , Developed & Content provided by CMOTS INFOTECH.(ISO 9001:2015 certified) © Copyright 2011 All Rights Reserved. Saravana Stocks Pvt. Ltd