Vakrangee Limited Acquires 18.5% Stake in Vortex Engineering Private Limited for Rs. 7.03 Crores

Vakrangee Limited has entered into a Share Purchase Agreement on June 3, 2024, to acquire 18.5% equity share capital of Vortex Engineering Private Limited from Tata Capital Innovations Fund. This strategic investment will help the Company to have a complete backward integration in place for ATM Business, leverage cost synergies and technology know-how. The transaction is expected to be completed within 30 days and involves a cash consideration of Rs. 7.03 Crores for acquiring 1,39,415 Equity shares from Tata Innovations Fund, representing 18.5% of the equity stake in Vortex. Vortex Engineering Private Limited is an innovative and leading provider of Automated Teller Machines (ATMs) and multi-vendor ATM management software products.