Credit rating agency, CARE has reaffirmed ‘BBB’ rating assigned to Vakrangee’s long-term bank facilities (Fund-based) worth Rs 400 crore. The rating agency has also reaffirmed ‘A3+’ rating assigned to the company’s short-term bank facilities (Non-fund-based) worth Rs 110.90 crore. The ratings assigned to the bank facilities of the company continues to take into account experienced promoter supported by strong management team. The ratings also continues to consider the company’s established track record of executing large orders of e-governance projects coupled with increasing diversification towards e-retail business. Furthermore, the ratings also take into account strong revenue growth along with stable margins, comfortable capital structure and improved liquidity position.
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.