Vakrangee Acquires 8 8 Equity Stake In Vortex Engineering

Top Stories

Company

L&T Partners with PS Technology to Revolutionise Railways

6 mins read. August 2, 2024 at 12:45 PM

Company

Jindal Saw Q1 FY24 PAT Rises 67% to Rs 441 Cr

4 mins read. August 2, 2024 at 12:41 PM

Company

Pfizer Q1 FY25 PAT Zooms 61% to Rs 151 Cr

4 mins read. August 2, 2024 at 12:36 PM

Stock chart

Vakrangee acquires 8.8% equity stake in Vortex Engineering

ri-calendar-2-lineSep 13, 2023

By: BlinkX Research Team

FbkFbkTwitterTelegram

In order to purchase a 48.5 percent ownership investment in Vortex Engineering for Rs 18.43 crore, Vakrangee and private equity firm Aaviskaar Capital have signed a binding term agreement.

 

The deal is anticipated to close within 30 days of the term sheet date.

 

Aavishkaar India Micro Venture Capital Fund, Aavishkaar India II Company Limited, and Aavishkaar Venture Management Services Private Limited would sell 3,65,575 equity shares to the company, accounting for 48.5 percent of Vortex's equity interest.

 

Vortex is one of the leading providers of automated teller machines (ATMs), and so far has shipped 10,000+ ATMs across India, Africa and South Asia and Software products to complement ATM hardware.

 

“This is a strategic investment which will help the company to have a complete backward integration in place and thereby unlocking future growth opportunities, leverage the cost synergies and technology know-how. Our move into this acquisition is yet another validation to achieve our set targets of 3 lakh+ outlets along with Minimum 15,000+ ATMs by 2030," said Dinesh Nandwana, Managing Director & Group CEO of Vakrangee.

Related News

News Thumbnail
Company

L&T Partners with PS Technology to Revolutionise Railways

6 mins read. August 2, 2024 at 12:45 PM

News Thumbnail
Company

Jindal Saw Q1 FY24 PAT Rises 67% to Rs 441 Cr

4 mins read. August 2, 2024 at 12:41 PM

News Thumbnail
Company

Pfizer Q1 FY25 PAT Zooms 61% to Rs 151 Cr

4 mins read. August 2, 2024 at 12:36 PM

News Thumbnail
Company

NBCC Arm Gets Two Construction Projects Worth Rs 443.61 Cr

4 mins read. August 2, 2024 at 12:33 PM

Related Blogs

Stock chartDemat Account

Biggest Winners and Losers in MSCI: Key Movers in Global Indices 2025

0 people read

3 mins read . Aug 20, 2025

Stock chartMutual Fund

What MF Big Boys Bought and Sold – Top Mutual Fund Stock Activity in 2025

0 people read

8 mins read . Aug 18, 2025

Download app

Access BlinkX
everywhere
across device

Join the Future of Trading

with BlinkX

#ItsATraderThing

Open Trading Account
Verify your phone
+91
*By signing up you agree to our terms & conditions