Vakrangee Limited, launches its 40+ NextGen Vakrangee Kendras in the National Capital Region (NCR), New Delhi. After our successful launch in the Mumbai Metropolitan Region, we have now announced our ingress into the capital city. Our Kendras have been launched in the sub-urban and semi-rural areas of Delhi. Since our inception in 2011, Vakrangee Kendra has evolved from being a non-exclusive store with a single line of service to an exclusive digital convenience store model providing access to multi line of services spread across Banking, ATM, Insurance, Financial services, E-Commerce, E-Governance and Logistics.
The Next Gen Kendras boast of a modern and standardized format with a uniform look and feel in all the Kendras aimed towards building consistent service levels and uniform consumer experience. This model also embodies technological advancements such as mandatory ATMs that enable the ease of financial transactions; centralized monitoring with the help of CCTV Cameras which would provide remote assistance to the pan-India Kendras, digital advertising through digital signage for brand partners, along with biometric and pin pad devices to enable all kind of payments mechanisms. We are now looking to upgrade all the existing 45,000+ outlets within 2019.
Commenting on the launch, Mr. Dinesh Nandwana, MD & CEO, Vakrangee Ltd said, "We have successfully launched 50+ Next Gen Vakrangee kendras in Mumbai Metropolitan Region recently, and the launch of these 40+ Next Gen Vakrangee Kendras in the NCR region is another key milestone in our journey towards the up-gradation of the Vakrangee Kendra stores.
I am happy to share that, with our progressive efforts and strong positive response received from our franchisees, there will be 4,000+ outlets upgrading to the Next Gen model during this quarter before December, which are already in the advanced stage of completion. These outlets are spread across 380 districts and 2,548 postal codes of the country, out of which more than 3,000 outlets are from Tier 5 and Tier 6 cities. Simultaneously, we have started the process for upgrading all the remaining 41,000 outlets into Next Gen Vakrangee Kendras and which will be upgraded within 2019.
Our belief under the Vision 2020 of setting up 75,000 NextGen Vakrangee Kendras all over India, covering each pin code by the year 2020, aims at providing all types of services under one roof."
With this behemoth undertaking, we are putting forth our foray in not only the expansion of our viability in providing a bouquet of services to the customers, but also as a step towards bringing about employment, equality and minimizing the rural-urban disparity.
In our pursuit of bringing about an evolution in the Rutail (rural-retail) sector of India; Vakrangee, with this launch, also focuses on creating a separate and a stronger brand identity across India. We are aspiring to be the most trustworthy physical as well as online convenience store across India, positively moving towards Vakrangee Kendra's new brand philosophy of 'AB Poori Duniya Pados Mein'.
Shares of Vakrangee Limited was last trading in BSE at Rs.37.95 as compared to the previous close of Rs. 36.15. The total number of shares traded during the day was 300982 in over 575 trades.
The stock hit an intraday high of Rs. 37.95 and intraday low of 37.55. The net turnover during the day was Rs. 11409304.