Aurion Pro to raise Rs 50 cr via pref issue

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Aurion Pro to raise Rs 50 cr via pref issue

Aurion Pro is raising funds via a preferential issue. Managing Directot of Aurion Pro Solution, Amit Sheth informs that the company is looking at diluting about 20 lakh shares and raising about Rs 50 crore through the issue.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » RELATED NEWS AurionPro Solutions Q3 net profit at Rs 7.12cr ALSO READ See latest News about aurionPro Sol See previous management interviews See what other Experts & Brokerages are saying about aurionPro Sol aurionPro Sol BSE | NSE 29/05/12 Are Mutual Funds betting on aurionPro Sol?

Aurion Pro is raising funds via a preferential issue. Managing Directot of Aurion Pro Solution, Amit Sheth informs that the company is looking at diluting about 20 lakh shares and raising about Rs 50 crore through the issue. He also adds that the company is looking forward for a few acquisitions.

Excerpts from CNBC - TV18's exclusive interview with Amit Sheth:

Q: Could you outline for us how much are you looking to raise and what will be the total dilution post this issue?

A: We are looking at diluting about 20 lakh shares and raising about Rs 50 crore through this issue.

Q: What would you be using the funds for?

A:  This would be more for augmenting our development capabilities, more for long term working capital requirements of the company, investing in new product lines, expanding our sales network and maybe some inorganic growth opportunities.

Q: Are there any acquisitions on the card?

A: We have been constantly looking at few, so maybe some of this money would go in there.

Q: What kind of interest are you seeing from the FIIs and strategic investors at this point in time? Could you share with us if you have indeed zeroed in on any institution at this point in time to deploy or allot these shares to?

A: The money that we are raising is coming from the existing management, Directors and some of the existing strategic shareholders of the company.

Q: What will be the stake holding adjustment post the dilution? How much would be the promoters holding in the company?

A: We had about 42% as management; post this dilution we should go to about 55-56%.

Q: A lot of acquisitions that you have made in the past, how have the integrations of that been coming along?

A: It has been integrating very well for us.

Q: What kind of consolidated revenues can we see going forward with these integrations when can it be complete?

A: We have consolidated all the three acquisitions and our last quarter's revenues have started reflecting all of it.