India's Aurionpro Solutions rises 5% on stake buy in automatic gate maker

Aurionpro Solutions

26/11/2021 07:31

** Shares of technology solutions co  APSL.NS  rise as much
as 4.98% to 227.75 rupees, their highest since Nov. 18
    ** Co says it will acquire majority stake in automatic gates
maker Toshi Automatic Systems Pvt Ltd; did not provide a deal
value
    ** APSL says Toshi makes automatic gates required in BRTS,
Metro and Airport Transit projects, has a large manufacturing
plant in central Indian state Uttar Pradesh
    ** Says Toshi has been servicing multiple projects in the 
public transportation domain
    ** Says acquisition through partly by subscription of fresh
equity to be issued by Toshi and partly by acquiring equity
stake from existing shareholders
    ** APSL shares up 135.2% this year, as of last close

 (Reporting by Nallur Sethuraman in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (Within U.S.
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