BLS E-Services concludes acquisition of controlling stake in ASPL

27 Nov 2024 , 12:17 PM

BLS E-Services Limited (BLSe), a technology-enabled digital service provider, has acquired a 57% controlling stake in Aadifidelis Solutions Pvt Ltd and its affiliates (ASPL), a leading loan distribution and processing company in India, for approximately ₹190 Crore.

BLSe acquired a 57% share in ASPL for approximately ₹123 Crore. The corporation invested around ₹78 Crore in ASPL, including a preliminary infusion of ₹25 Crore. Additional payments would be granted upon achieving specific EBITDA milestones in FY2024-25 and FY2025-26.

ASPL operates through a network of 8,600 channel partners who source loan queries from 17 states and union territories. ASPL currently supports an average monthly loan issuance of around ₹1,500 Crore.

BLSe will use ASPL’s experience and extensive relationships with prominent financial institutions to enhance its Business Correspondent services, resulting in numerous cross-selling opportunities. The integration of ASPL into BLSe will also result in more streamlined service offerings for BLSe, while enhancing operating efficiencies and expanding market reach. Lagrange Point Advisors LLP, Mumbai served as the transaction advisor to BLS for this transaction.

BLS E-Services, a subsidiary of BLS International, is a top provider of technology-enabled digital services in India. Their services include Business Correspondent (BC/Rural Banking Outlets), Assisted E-services, and E-Governance Services.

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