Explain Vakrangee share in 500 words
Vakrangee Limited is an Indian technology-driven company that provides last-mile retail outlets to deliver various services and products to rural and semi-urban areas. The company operates through its network of Vakrangee Kendras, which are essentially small retail outlets that offer a wide range of services such as banking, insurance, e-governance, and e-commerce.
Vakrangee was incorporated in 1990 and initially focused on providing software development services. However, in 2006, the company shifted its focus to creating a network of Vakrangee Kendras to bridge the digital divide in rural India. The company believed that by providing access to various services, it could empower the rural population and contribute to their socio-economic development.
The Vakrangee Kendras act as a one-stop solution for various services. They enable customers to open bank accounts, deposit and withdraw money, make utility bill payments, purchase insurance policies, and avail e-governance services such as Aadhaar enrollment and PAN card application. Additionally, the Kendras also provide access to e-commerce platforms, allowing customers to order products online and have them delivered to their nearest outlet.
One of the key factors that sets Vakrangee apart is its extensive network of Kendras. The company aims to have a presence in every panchayat (village-level administrative unit) in India, which amounts to around 250,000 Kendras. This ambitious goal is supported by the company's strong distribution network, which includes partnerships with various banks, insurance companies, and e-commerce platforms. Vakrangee has also implemented a franchise model, allowing individuals to become Vakrangee Kendra operators and earn a livelihood while serving their communities.
In recent years, Vakrangee's share price has experienced significant volatility. The company's stock was listed on the Indian stock exchanges in 2004 and witnessed a steady rise in value until However, in early 2018, allegations of irregularities and manipulation in the company's operations surfaced, leading to a sharp decline in the share price. The Securities and Exchange Board of India (SEBI) initiated an investigation into the matter, which is still ongoing.
Despite the challenges faced by the company, Vakrangee has continued to expand its network and diversify its services. It has partnered with several government agencies to provide e-governance services and has tied up with various banks to offer financial services. The company has also ventured into the digital payments space, launching its own mobile wallet called "Vakrangee Pay."
In conclusion, Vakrangee Limited is an Indian company that operates a network of retail outlets called Vakrangee Kendras, providing a wide range of services to rural and semi-urban areas. The company aims to bridge the digital divide and empower the rural population by offering access to banking, insurance, e-governance, and e-commerce services. While the company has faced challenges and controversies in recent years, it continues to expand its network and diversify its offerings. Vakrangee's share price has experienced volatility, but its ambitious goals and commitment to rural development make it an interesting player in the Indian market.