BLS E-Services surges as its arm to acquire CSPs of SBI, HDFC Bank
BLS E-Services is currently trading at Rs. 202.85, up by 6.70 points or 3.42% from its previous closing of Rs. 196.15 on the BSE.
The scrip opened at Rs. 205.95 and has touched a high and low of Rs. 205.95 and Rs. 199.10 respectively. So far 2299 shares were traded on the counter.
The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 269.90 on 25-Jun-2024 and a 52 week low of Rs. 131.15 on 07-Apr-2025.
Last one week high and low of the scrip stood at Rs. 205.95 and Rs. 181.15 respectively. The current market cap of the company is Rs. 1843.02 crore.
The promoters holding in the company stood at 68.89%, while Institutions and Non-Institutions held 0.44% and 30.68% respectively.
BLS E-Services’ subsidiary -- Zero Mass (ZMPL) has signed definitive agreement for acquisition of Customer Service Points (CSPs) of State Bank of India (SBI) and HDFC Bank under Business Correspondence (BC) segment of Sub-K Impact Solutions (Sub-K) on a slump sale basis subject to approvals from Banks, other regulatory/ statutory authorities, as may be applicable, and completion of Condition Precedents of the definitive agreement. The object of this acquisition is to consolidate and expand the business correspondence segment of the Company.
The acquisition will be completed on or before September 30, 2025, subject to approvals from relevant Banks and completion of Condition Precedents of the definitive agreement. The cost of acquisition is around Rs 6.5 crore.
BLS E-Services is a technology enabled digital service provider, providing (i) Business Correspondents services to major banks in India, (ii) Assisted E-services; and (iii) E-Governance Services at grass root levels in India.
