Bartronics India signs MoU with Bestvantage Investments

National, August 6:  Bartronics India Limited, a leading IT services & business solution provider delivering cutting-edge technology solutions to enterprises, has announced a Memorandum of Understanding (MoU) with Bestvantage Investments, a pioneering platform offering secure and transparent access to alternative investments in startups.

This collaboration seeks to propel Bartronics' growth and foster innovation. It will focus on potential acquisitions in the fintech and insurance sectors to enhance its offerings and expansion strategies. Bestvantage’s expertise in alternative investments and startup verification will be leveraged to uncover potential opportunities that align with Bartronics' strategic goals. Through this MoU, Bartronics aims to increase its turnover to Rs. 66 crores.

Mr. Vidhya Sagar Reddy, Managing Director of Bartronics India, said, “We are thrilled to join hands with Bestvantage Investments. This MoU marks a significant milestone in our journey towards expanding our footprint. The collaboration will enhance our technology expertise and cutting-edge domain knowledge and open new avenues for growth and innovation, particularly in the fintech and insurance sectors, allowing us to serve our clients better and facilitate growth.”

Bartronics recently announced a major expansion in partnership with the Bank of India, one of the country's largest public sector banks. Demonstrating its commitment to financial inclusion and community development, Bartronics will launch a significant project to bring essential banking services to underserved communities.

Ashwani Singh Bisht, Company Secretary of Bartronics India, said, “We are excited about this collaboration with Bank of India for financial inclusion projects. It is a significant milestone in our efforts to provide accessible banking services to more people and empower underserved communities. We have completed the empanelment process in various zones and are all set to start the operations.”

This strategic partnership with the Bank of India will allow Bartronics to extend its operations to nearly 1,000 additional sub-service areas, significantly enhancing its reach and impact. Bartronics will provide essential banking services to around 100,000 customers daily, fostering financial inclusion.

In another key development, Bartronics announced that its promoter entity, Kinex India Private Limited (formerly known as Antanium India Private Limited), has sold 1.35 crore shares of the company at Rs. 20 apiece through the Offer For Sale (OFS) mechanism on BSE and NSE on July 11 and 12. The sale was carried out to comply with the minimum public shareholding criteria in compliance with SEBI guidelines.

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