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BLS International Services surges on entering into agreement to acquire 51% stake in SLW Media
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BLS International Services is currently trading at Rs. 427.65, up by 5.80 points or 1.37% from its previous closing of Rs. 421.85 on the BSE.
The scrip opened at Rs. 421.80 and has touched a high and low of Rs. 439.90 and Rs. 407.50 respectively. So far 318897 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 449.00 on 28-Aug-2024 and a 52 week low of Rs. 230.10 on 26-Oct-2023.
Last one week high and low of the scrip stood at Rs. 449.00 and Rs. 400.95 respectively. The current market cap of the company is Rs. 17641.04 crore.
The promoters holding in the company stood at 71.52%, while Institutions and Non-Institutions held 8.75% and 19.73% respectively.
BLS International Services has entered into a definitive Share Purchase Agreement to acquire a 51% stake in SLW Media, for a value of Rs 80.24 lakh. SLW Media is a prominent sports management company with over two decades of experience in the golf industry.
The acquisition aligns perfectly with BLS International's extensive global presence, allowing for seamless integration of golf events with its visa and travel services across over 66 countries. This strategic move not only taps into the rapidly growing sports and leisure sector but also positions BLS International for significant expansion, diversification, and global reach enhancement. This synergy will also enhance the brand equity of the company at a global scale. By combining golf event management with its existing expertise in visas, travel, and hospitality, BLS International is creating a one-stop solution for luxury experiences that cater to high-net-worth individuals (HNIs), corporate clients, and government officials.
As BLS International continues to expand its service offerings, this acquisition represents a significant step towards becoming a comprehensive, global leader in both government services and luxury experiences.
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.
