Vakrangee Expands Reach with JK Cement Partnership

9 Oct 2023 , 11:07 AM

Vakrangee has formed a partnership with JK Cement to sell grey cement through Vakrangee Kendra networks. JK Cement is engaged in the production of Grey Cement, White Cement, white cement-based wall putty, and various other building materials.

Vakrangee Kendras provide a wide array of products and services covering banking, insurance, ATM facilities, assisted e-Commerce, e-Governance, and Total Healthcare.

As per data, In September, Vakrangee finalized a binding term sheet with the International Finance Corporation (IFC) for acquiring an 8.8 % equity stake in Vortex Engineering Private Limited, a prominent automated teller machine (ATM) provider.

This acquisition entails purchasing 66,050 equity shares from IFC for Rs 3.33 crore and is projected to conclude within 30 days from the term sheet date.

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