Virtual Galaxy Info.

Virtual Galaxy Infotech appointed Sunil Kulkarni as an additional non-executive director for a term ending at the forthcoming annual general meeting. Kulkarni had spent 15 years as chief executive and joint managing director of Oxigen Services and had worked across mobile wallets, merchant payments, remittances and Aadhaar-enabled payments. The board also approved material related-party transaction limits of ₹45 crore each with Finverse Private Limited and Paynext Private Limited, subject to member approval. It approved a variation of IPO objects to direct unutilised proceeds towards data-centre upgrades, marketing and working capital, and scheduled the AGM for 24 September. Virtual Galaxy’s revenue reached ₹182.1 crore in FY26, with cash of ₹31.2 crore and net debt-to-equity of 0.2 at year-end.

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Virtual Galaxy Infotech’s board approved material related-party transactions of ₹45 crore each with group companies Finverse Private Limited and Paynext Private Limited, subject to shareholder and other regulatory approvals. It also approved a variation of the IPO’s objects, reallocating unutilised funds from product upgrades and business development towards data-centre upgrades, marketing and working capital. Sunil Kulkarni, who spent 15 years as chief executive and joint managing director of Oxigen Services, was appointed an additional non-executive director until the next AGM. The AGM was scheduled for 24 September 2026, where shareholders were due to consider the reappointment of Avinash Narayanrao Shende as a director liable to retire by rotation. Virtual Galaxy reported FY26 revenue of ₹182.1 crore, with cash of ₹31.2 crore and equity of ₹218.5 crore at year-end.

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Virtual Galaxy Infotech received a ₹5.45 crore purchase order from Mizoram Cooperative Apex Bank for a core-banking upgrade on an application-service-provider model. The two-month implementation covers the head office, 36 branches, internet banking and corporate and retail mobile applications, followed by a five-year contract combining a one-time setup fee with monthly charges. The company had served Mizoram Apex since 2012 and already ran its E-Banker core-banking software at the bank. BFSI accounted for 91.5% of Virtual Galaxy's FY24 operating revenue of ₹61.46 crore. Its order book stood at ₹47.29 crore at 31 December 2024, while new orders in the first nine months of that financial year totalled ₹46.82 crore.

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July 17 (Reuters) - Virtual Galaxy Infotech Ltd VIRX.NS:

• VIRTUAL GALAXY INFOTECH LTD- GETS ORDER WORTH 15.3 MILLION RUPEES

Source text: ID:nNSE2k1fkQ

Further company coverage: VIRX.NS

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April 15 (Reuters) - Virtual Galaxy Infotech Ltd VIRX.NS:

• ENTERED INTO SOFTWARE DEVELOPMENT AGREEMENT WITH BOTSWANA DEVELOPMENT CORPORATION LIMITED

• AGREEMENT VALUED AT USD 1,099,000 EXCLUDING TAXES

Source text: ID:nNSE7L7jRw

Further company coverage: VIRX.NS

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