The shares of this small-cap company gained up to 3 percent after the company signed a share purchase agreement to acquire 55 percent of Aadifidelis Solutions Private Limited.
BLS International Services Ltd has a market capitalization of Rs 14,439.75 crore, the shares were trading in green at Rs 351.50 per share, increasing around 1 percent as compared to the previous closing price of Rs 348.45 apiece.
According to the company filing, BLS International Services Ltd signed a share purchase agreement by BLS EServices Limited, a subsidiary of BLS International Services Limited, to acquire 55 percent of Aadifidelis Solutions Private Limited for an enterprise value of approx Rs 190 crore.
Furthermore, BLSE will make an upfront investment (primary and secondary) of about Rs. 71 crore, with the remaining consideration deferred until the accomplishment of milestones in FY2025. The transaction will be all-cash. The acquisition will be finalized in Q2 of FY 2025.
Moreover, ASPL’s network of 8,600+ channel partners source loan inquiries, which will align with BLSE’s portfolio of Business Correspondents-led citizen-centric last mile banking service.
Examining the company’s financial condition, revenue has seen sight fall by 0.2 percent from Rs 449 crore in Q4FY23 to Rs 448 crore in Q4FY24, but during the same period, net profit magnified by 10 percent from Rs 77 crore to Rs 85 crore.
The company is the second-largest International Visa & Consular services provider and works with over 46 client governments, including Diplomatic Missions, Embassies, and consulates, and leverages technology and processes that ensure data security.
The Company has an extensive network of centers globally, that provide consular, biometrics, and citizen services. BLS has processed over 360 million applications to date globally.
BLS International Services Limited is an India-based organization that provides technology-enabled, visa, consular, and citizenship services. It offers visa processing and technology-enabled citizen services to governments in Asia, Africa, Europe, South America, North America, and the Middle East.
Written by:- Abhishek Singh.
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