Vakrangee enters into pact with JK Cement, shares down

Vakrangee Kendras are offering a comprehensive range of products and services across banking, insurance, ATM, assisted e-Comrce, e-Governance and Total Healthcare.

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Vakrangee has entered into an arrangement with JK Cement for sale of grey cement through Vakrangee Kendra networks.

At 09:25 am, Vakrangee was quoting at Rs 16.57, down Rs 0.57, or 3.33 percent and at the same time Vakrangee was quoting at Rs 16.57, down Rs 0.57, or 3.33 percent on the BSE.

JK Cement is manufacturing Grey Cement, White Cement, white cement-based wall putty and other building material.

Vakrangee Kendras are offering a comprehensive range of products and services across banking, insurance, ATM, assisted e-Comrce, e-Governance and Total Healthcare.

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In September, Vakrangee has entered into a binding term sheet with the International Finance Corporation (IFC) for the acquisition of 8.8 percent equity stake in Vortex Engineering Private Limited, a leading automated teller machines provider. The company will acquire 66,050 equity shares from IFC for Rs 3.33 crore. The transaction is expected to be completed within 30 days from the term sheet date.

Also, the company entered into binding term sheet with private equity investor Aaviskaar Capital to acquire 48.5 percent equity stake in Vortex Engineering for Rs 18.43 crore.

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