Vakrangee gains on tying-up with Indian Oil Corporation

Vakrangee is currently trading at Rs. 223.75, up by 1.10 points or 0.49% from its previous closing of Rs. 222.65 on the BSE.

The scrip opened at Rs. 223.90 and has touched a high and low of Rs. 224.40 and Rs. 223.10 respectively. So far 1,93,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 228.90 on 09-Mar-2016 and a 52 week low of Rs. 86.55 on 03-Jun-2015.

Last one week high and low of the scrip stood at Rs. 228.90 and Rs. 222.10 respectively. The current market cap of the company is Rs. 11,840.00 crore.

The promoters holding in the company stood at 41.61% while Institutions and Non-Institutions held 13.55% and 44.84% respectively.

Vakrangee has entered into a tie-up with Indian Oil Corporation (IOC), India's largest commercial enterprise for setting up Vakrangee Kendra at its retail outlets (distribution network). This tie up would drastically increase the customer touch points at the Vakrangee Kendra and ensure a boost in its core objective i.e. Financial Inclusion, providing Digital India services, Social Inclusion, Employment Generation and Skill Development.

Vakrangee Kendra shall be set up in about 25000 plus IOC Retail Outlets located PAN India. Citizens, in these areas shall now be able to visit nearest Vakrangee Kendra and enjoy services from all the 5 business units of Vakrangee, i.e. e-Commerce, e-Governance, Banking, Insurance, and ATM. The services given at these outlets would be (i) All Government Services (G2C) offered through e-Mitra in Rajasthan, Aadhaar Enrolment & Updatation, (ii) Opening of Bank Account, Cash Withdrawal/Deposit & Fund Transfer, (iii) Booking of Online products through e-Commerce giant Amazon, Mobile & DTH Recharge from all the telecom & DTH partners, (iv) Availing Insurance Products offered by Tata AIG, (v) availability of the WLA ATMs.

Vakrangee is the unique technology driven company focused on building India's largest network of last-mile retail touch points to deliver real-time banking, insurance, e-governance, e-commerce and ATM services to the unserved rural, semi-urban and urban markets. These retail touch points are called as ‘Vakrangee Kendra’ which acts as the ‘One-stop shop’ for availing various services and products. The company has plans to setup and manage a total of 75,000 ‘Vakrangee Kendra’ outlets across India by 2020 and covering the presence in all Pin code of the country.