Pune, 19th July 2023: Affordable Robotic & Automation Ltd. (ARAPL), a prominent player in the Automation sector, today announced that it has commenced the process of migrating from the Small and Medium Enterprises (SME) Exchange to the Main Board of both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). This significant milestone marks a new chapter for the company and its valued shareholders.
The decision to migrate to the Main Board is driven by ARAPL’s sustained growth, improved financial performance, and increased market capitalization. By migrating to the Main Board, the company aims to bolster its visibility, attract a broader investor base, and leverage the advantages associated with listing on India’s premier stock exchanges.
“The Migration to main board is happening at a time when we are in a growth trajectory , this is good for the investors, we have had a 40% YOY growth last year and this gives us tremendous confidence that this disproportionate growth is here to stay for next couple of year” Milind Padole, Managing Director and chairman at ARAPL. The migration process entails complying with the stringent listing requirements of both the BSE and NSE. ARAPL is fully committed to meeting these requirements and has already initiated the necessary steps to ensure a seamless transition. The company will collaborate closely with its legal and financial advisors to ensure compliance with all regulatory obligations and timelines.
Moving to the Main Board will provide ARAPL with several advantages, including increased liquidity and trading volumes, improved access to capital markets, enhanced corporate governance standards, and broader analyst coverage. These factors are expected to further fortify the company’s position and unlock additional growth opportunities.
Mr. Mukund Shah, the CEO of Affordable Robotic & Automation Ltd (ARAPL), expressed his enthusiasm about the migration process, stating, “We are thrilled to embark on this important step in our journey. Migrating to the Main Board demonstrates our unwavering commitment to sustained growth and shareholder value. We firmly believe that this move will amplify our visibility, broaden our investor base, and provide us with increased access to capital markets. We eagerly anticipate the continued support of our shareholders and stakeholders throughout this transition.”
“One major player in the same warehouse automation space “Addverb” have recently announced a growth plan of achieving 8K crores in the next 5 years, this shows the huge potential the new subsidiary has in the time to come“ said Robinson Philipose CoFounder and CEO ARAPL RaaS. ARAPL RaaS recently announced its foray in the US markets by appointing Toyota lift northwest as its channel partner.
ARAPL will ensure that its stakeholders, including the media and customers, are well-informed about the progress of the migration process and anticipates completing the migration within the stipulated time frame. The company remains steadfast in its focus on core business strategies, unwavering customer satisfaction, and the creation of long-term value for its esteemed shareholders. Arapl has also invested in a Bangalore-based company Dheeyantra research labs again in the AI space.