Vakrangee jumped 4.22% to Rs 34.57 after the company announced a strategic corporate agency tie-up with Shriram Life Insurance to offer life insurance products across its network.
This partnership aims to provide easy access to comprehensive life insurance products through Vakrangee Kendra network across the country.The collaboration will enable Vakrangee Kendras, located across underserved and unserved areas, to offer a wide range of life insurance products. By leveraging this partnership, the company aims to enhance accessibility and affordability of insurance solutions, empowering customers with financial security.
Commenting on this partnership, Vedant Nandwana, MD, said, "We are delighted to partner with Shriram Life Insurance to expand our portfolio of essential services. This initiative aligns with our vision of driving financial inclusion and providing last-mile access to high-quality insurance products for every Indian, regardless of their location.
Vakrangee Kendras are exclusive branded format outlets offering a comprehensive range of products and services across banking, insurance, ATM, assisted e-commerce, e-governance and total healthcare. With 83% of Vakrangee Kendra outlets in Tier-4 to 6 locations, this association will enable Vakrangee to allow its customers to get access to insurance services in the most remote parts of the country.
Vakrangee is a leading Last Mile Distribution Platform with a strong physical and digital presence across India. It provides a range of essential services, including banking, insurance, ATM, e-governance, e-commerce, healthcare, and logistics, to underserved markets. Its "Vakrangee Kendra" outlets and "BharatEasy" mobile app offer convenient access to these services.
The companys consolidated net profit jumped 64% to Rs 0.69 crore while net sales increased 27% to Rs 65.25 crore in Q2 FY25 over Q2 FY24.
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