Vakrangee Softwares trades in green on receiving in-principle authorization for setting up White Labeled ATMs

08 Apr 2013

Vakrangee Softwares is currently trading at Rs. 67.00, up by 0.15 points or 0.22% from its previous closing of Rs. 66.85 on the BSE.

The scrip opened at Rs. 67.10 and has touched a high and low of Rs. 68.70 and Rs. 66.90 respectively. So far 3,67,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 69.20 on 14-Jan-2013 and a 52 week low of Rs. 29.56 on 11-Apr-2012.

Last one week high and low of the scrip stood at Rs. 67.50 and Rs. 66.60 respectively. The current market cap of the company is Rs. 3,364 crore.

The promoters holding in the company stood at 34.29% while Institutions and Non-Institutions held 3.83% and 61.88% respectively.

Vakrangee Softwares (VSL) has received 'In-principle Authorisation' from Reserve Bank of India (RBI) for setting up White Label ATMs (WLAs) in India. As a White Level ATM operator (WLAO), VSL will set up, own and operate minimum 15000 ATMs under its own brand in 3 years timeline across the country.

The company will work in association with one or more sponsor banks who will serve as the settlement bank for settlement of all the service transactions undertaken at VSL ATMs. Also the sponsor banks will ensure adequate supply of cash at the VSL ATMs and shall facilitate redressal of failed transactions at VSL ATMs.

Further, the company will be entitled to receive transaction fee from the banks for the use of VSL ATM network by the bank customers. In addition, VSL is free to earn extra revenue through advertisement and other value added services as per the regulations in force from time to time.

Vakrangee Softwares is one of the few leading E-Governance service provider in India equipped with cutting edge infrastructure, highly experienced professionals, investment and technological breakthrough on a continual basis in order to maintain time bound completion of critical projects.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323