This small-cap software company gets preliminary permission from RBI to operate as a payment aggregator
Shares of the company surged by more than 6 per cent after the announcement.
In a recent press release, Aurionpro Solutions disclosed that its subsidiary Aurionpro Payment Solutions Pvt Ltd (AuroPay) has been granted preliminary permission by the Reserve Bank of India (RBI) to function as a payment aggregator under the Payment and Settlement Act, 2007. Once AuroPay has obtained the final Certificate of Authorization from the RBI, it may start operating as a Payment Aggregator. With the completion of this important milestone, AuroPay is still on schedule to introduce complete payment services to the marketplace.
The scrip opened today at Rs 425.05 and touched a high and low of Rs 467.65 and Rs 425.05, respectively. Its 52-week high stood at Rs 468.00, whereas its 52-week low was Rs 221. The current market cap of the company is Rs 1,044.02 crore.
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Aurionpro Solutions is a publicly traded technology company providing software products and expert-level consulting services to an extensive global customer base. The company, which has its headquarters in Mumbai, was recently named by Deloitte as the 6th fastest-growing technology company in India and the 49th overall in the Asia/Pacific region. Since its founding in 1997, Aurionpro has consistently increased its revenue and earnings, and it now employs over 1100 people in Asia, Europe, and the US. More than 90 banks and financial institutions from the US, Europe, the Middle East, South East Asia, and South Asia are among the companies that the company counts as clients, demonstrating its broad domain expertise in the field of banking and financial applications.