Vakrangee has currently has 3,504 Nextgen Vakrangee Kendra’s spread across 19 states, 366 districts and 2,186 postal codes. More than 70 per cent outlets are from Tier 5 and tier 6 cities. Their planned target is to reach at least 75,000 by Financial Year 2021-2022 and 3,00,000 outlets by Financial Year 2024-2025.
Vakrangee is planning to build a strong hold and solid presence by being an enabler for the Electric Vehicle charging facility through its channel of Retail outlets called as Vakrangee kendras. They are aiming consistently to focus on expanding the wide range of services available at their exclusive Nextgen Vakrangee Kendras.
For all operators who want to setup Electric Vehicle services in India, it will be more beneficial for them to leverage Vakrangee’s charging infrastructure rather than building one of their own. Vakrangee is also building a large charging footprint on a Pan India level through their network of Nextgen Vakrangee.
Commenting on this occasion, Mr. Dinesh Nandwana, Executive Chairman said that, “We believe that the electric vehicle space is a huge growth opportunity for the coming years and we want to be future ready by developing a Pan India footprint of EV charging infrastructure. We would be an enabler by providing the distribution platform for the EV charging facility through our partnership with the EV service providers.”
The government is expecting a big target of 25 per cent of the total vehicles on roads to be electric vehicles by 2030, necessitating erecting robust electric vehicle (EV) charging infrastructure across the country, according to the Union Housing and Urban Affairs Ministry. As per the guidelines, there should be at least one station at every 25 Km on each side of the highway/roads.
About Vakrangee Limited (BSE Code: 511431) (NSE Code: VAKRANGEE)
Incorporated in 1990, Vakrangee is the unique technology driven company focused on building India’s largest network of last-mile retail outlets to deliver real-time banking & Financial Services, ATM, insurance, e-governance, e-commerce and logistics services to the unserved rural, semi-urban and urban markets. The Assisted Digital Convenience stores are called as “Vakrangee Kendra” which acts as the “One-stop shop” for availing various services and products.
Vakrangee is a listed Company on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) with a Market Cap. of Rs. 3819 crore.