BLS International gains as its arm inks pact to acquire 55% stake in Aadifidelis Solutions
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BLS International Services is currently trading at Rs. 351.25, up by 2.80 points or 0.80% from its previous closing of Rs. 348.45 on the BSE.
The scrip opened at Rs. 350.00 and has touched a high and low of Rs. 355.25 and Rs. 349.45 respectively. So far 6506 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 430.00 on 01-Feb-2024 and a 52 week low of Rs. 191.50 on 26-Jun-2023.
Last one week high and low of the scrip stood at Rs. 355.25 and Rs. 317.65 respectively. The current market cap of the company is Rs. 14347.11 crore.
The promoters holding in the company stood at 71.52%, while Institutions and Non-Institutions held 8.72% and 19.76% respectively.
BLS International’s subsidiary -- BLS E-Services (BLSE) has entered into a definitive Share Purchase Agreement (SPA) to acquire a 55% controlling interest in Aadifidelis Solutions (ASPL) and its affiliates, for an Enterprise Value of approximately Rs 190 crore.
BLSE will make an upfront investment (Primary and Secondary) of approximately Rs 71 crore with balance consideration being deferred linked to achievement of milestones in FY2025. The acquisition will be an all-cash deal. The transaction will be completed in Q2 FY 2025.
Operating through a hub-and-spoke model, with a comprehensive Pan-India presence in 17 states and union territories, ASPL’s network of 8,600+ channel partners source loan enquiries, which will align with BLSE’s portfolio of Business Correspondents-led citizen-centric last mile banking services.
BLS International Services is a part of the four decades old BLS Group with a global presence and diversified range of services in polymers and petrochemicals, education, electronics, asset management, visa processing and management consulting.
