Vakrangee soars as board to mull demerger proposal


Vakrangee jumped 6.65% to Rs 50.55 after the company said its board will meet on Saturday, 19 June 2021, to mull demerger of physical and digital Vakrangee kendras.

The board of directors of the company will be held on Saturday, 19 June 2021, to consider and approve the scheme of arrangement for demerger of Physical Vakrangee Kendra and Digital Vakrangee Kendra (Bharat Easy Super App).





The demerger will unlock value of both business and would result in shareholder value maximization, the company said.

On the same day, the company’s board will also consider the audited annual financial results of the company for the financial year (FY) 2020-21.

The company’s consolidated net profit declined 21.64% to Rs 16.80 crore on a 62.67% fall in net sales to Rs 74.36 crore in Q3 FY21 over Q3 FY20.

Vakrangee offer an extensive array of services across various sectors by providing BFSI, ATM, e-commerce & logistics services through its Vakrangee Kendras.

Powered by Capital Market – Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Previous post Aserto Raises $5.1 Million Seed to Launch Authorization Service
Next post Oilsands alliance to cut emissions based on old business plans, critics say