MoneyWorks4Me

Vedavaag inks MoU to launch eCommerce Platform & Mobile app

01 Oct 2021 Evaluate
Vedavaag Systems has signed Memorandum of Understanding (MoU) with Kiya Agro Industries, Mumbai to launch an eCommerce platform and Mobile App to build market place for Agri produce/Agri Commodities. The MoU envisages incorporating a subsidiary namely Vedavaag Kiya eCommerce with an equity contribution of 51% from Vedavaag Systems, 40% from Kiya Agro Industries and the balance 9% from the promoters of Vedavaag Systems. 

Kiya Agro Industries is into Agri Commodities trading, exports and imports. Kiya has made a turnover of Rs 133 crore in the current year up to August 2021 and is targeting a turnover of Rs 400 crore for the current financial year. Kiya Agro has good connect with domestic Agri traders, as well with overseas buyers of agro commodities.

Vedavaag Systems is a niche player of e-governance solutions and citizen services infrastructure management. The company offers E-Governance Solutions, Knowledge Center Solutions, Citizen Service Delivery, New Services e-Integration.

Peers
Company Name CMP
TCS 2079.30
Infosys 1035.00
HCL Technologies 1246.00
Wipro 159.50
Tech Mahindra 1539.00
View more..