Alliance of Vakrangee Digital Ventures Limited (100% subsidiary of Vakrangee Ltd) with Angel One Limited, the largest listed retail brokerage in India, to offer online trading account opening services through its BharatEasy Mobile app . Vakrangee will also provide the service from its physical network of Vakrangee Kendras. Vakrangee Digital Ventures Limited is the 100% subsidiary of Vakrangee Limited.
This combination will provide a full suite of financial solutions to clients across the country. The collaboration will provide our partner with access to Vakrangee’s huge customer base and network, helping them tap the untapped market and diversify their base.
Vakrangee through its BharatEasy Super app and Nextgen Kendras will now be able to provide online trading account opening services in remote areas of the country. By downloading a single BharatEasy Super App from Vakrangee mobile app, our customers would have access to a wide range of products and services, which would greatly reduce their need to switch between multiple apps. It would lead to a superior customer experience and convenience for the customer.
Angel One is the largest publicly traded brokerage house in the country, with 2.9 million active clients on NSE as of November 2021. Angel One, a fintech company, uses cutting-edge technologies such as artificial intelligence and machine learning in its state of artistic products. Its brokerage and related services are offered through online and digital platforms and a network of authorized persons.
Commenting on this partnership, Mr. Dinesh Nandwana, Group Managing Director and CEO, Vakrangee Ltd. said, “We are happy to partner with Angel One. This partnership with Angel One will help provide access to a wider range of investment and financial services. to our customers in the most remote areas of the country through our digital platform as well as the physical network of NextGen Vakrangee Kendras. We are extremely excited about our partnership with Angel One which gives us a great opportunity to bring value to our customers. This alliance will further strengthen our strategy to expand the range of services. “
He added, “Our franchisees in remote areas of the country can now improve their income stream by also offering e-commerce services. We will continue to add more products and services and partner with leading business partners to offer our customers a one stop solution to all of their banking, insurance, ATMs, financial services, assisted e-commerce, e-governance and logistics.Vakrangee offers these partners unparalleled reach in remote areas where these brands find the cost of operations too high.
Our unique Digital proposition with Phygital: “Phygital” would help the digital channel to grow rapidly and significantly reduce costs related to customer acquisition, physical support, order fulfillment and return management online orders. Additionally, leveraging physical presence would result in better interaction with customers, strong brand awareness, and better service and trust experience for customers. “
Mr. Narayan Gangadhar, CEO of Angel One Ltd, said: “We are delighted to partner with Vakrangee Digital Ventures Limited, to offer our suite of services to new age investors in Tier 2, 3 and beyond cities. . We are extremely excited. with this technology-based partnership, as we will be able to onboard more investors and further deepen the investment culture. “
Vakrangee currently has approximately 13,200 Nextgen Vakrangee Kendras spread across 28 states and UTs, over 560 districts and over 4,860 postcodes. Over 70% of these outlets are located in Tier 5 and 6 cities. Vakrangee’s planned target is to reach at least 25,000 Nextgen Vakrangee Kendras by FY 2022 and further improve it to reach 75,000 Nextgen points of sale by fiscal year 2026.
The company has teamed up with reputable partners spanning banking, ATMs, insurance, financial services, e-commerce, e-governance and logistics industries to provide its customers with the best services and products.
Angel Broking Limited shares last traded in the BSE at Rs. 1177.00 from the previous close of Rs. 1124.55. The total number of shares traded during the day was 90,588 in more than 5,873 transactions.
The stock hit an intraday high of Rs. 1,200.00 and an intraday low of 1,078.35. The net turnover during the day was Rs. 106,025,625.00.
Shares of Vakrangee Limited were last trading in the BSE at Rs. 35.65 from the previous close of Rs. 35.35. The total number of shares traded during the day was 687,778 in more than 2,328 transactions.
The action hit an intraday high of Rs. 36.45 and an intraday low of 35.30. The net turnover during the day was Rs. 24695377.00.