Vakrangee Ltd., India's largest network of last-mile retail points of sale, today announced its partnership with ZEE Entertainment Enterprises Ltd., to make available distribution and subscription of the ZEE5 service for its customers in 3,504 Nextgen Vakrangee Kendras across the country. ZEE5 is one of the fastest growing OTT platforms in India.
These Nextgen Vakrangee Kendras exclusively offer a comprehensive range of products and services across banking, insurance, ATM, assisted e-Commerce, e-Governance and logistics. With 68% of its Nextgen outlets in Tier-5 and 6 towns, Vakrangee will offer ZEE5 services to the most remote and hitherto unserved/underserved parts of the country.
Commenting on this partnership, Mr. Anil Khanna, Managing Director & Group CEO, Vakrangee Ltd. said, "We are happy to partner with ZEE Entertainment to help our customers avail ZEE5 in remote areas. With this partnership, we continue to expand the bouquet of services available at our exclusive Nextgen Vakrangee Kendras making them in to one stop shop for all the requirements of our customers including entertainment."
He added, "We will continue to add products and services and tie-up with leading business partners to offer our customers a comprehensive solution to all their banking, insurance, ATM, assisted e-Commerce, e-Governance and logistics, all at their doorstep. Vakrangee provides these business partners with the unmatched reach in remote areas where these brands find the cost of operations too high."
Manish Aggarwal, Business Head, ZEE5 India said, "At ZEE5, users' convenience and comfort is of paramount importance. This offline to online partnership with Vakrangee Kendra helps with both distribution and accessibility, thus getting more people exposed to ZEE5's premium content. We hope that this first of its kind association in the OTT segment will prove beneficial for the customers as it gives them an easy option of payment."
Vakrangee currently has 3,504 Nextgen Vakrangee Kendra's spread across 19 states, 366 districts and 2,186 postal codes. More than 68% outlets are from Tier 5 and tier 6 cities. Vakrangee's planned target is to reach at least 25,000 operational Nextgen Vakrangee Kendras by FY 2019-20 and further enhance it to reach 45,000 Nextgen outlets by FY 2020- 21 and 75,000 by FY2021-22.
Shares of Vakrangee Limited was last trading in BSE at Rs.48.85 as compared to the previous close of Rs. 49.1. The total number of shares traded during the day was 1017676 in over 2677 trades.
The stock hit an intraday high of Rs. 51 and intraday low of 48.6. The net turnover during the day was Rs. 50737383.