BLS E-Services to acquire 55% stake in Aadifidelis Solution for Rs 190 cr

Visa services provider BLS International on Tuesday said its subsidiary BLS E-Services Limited (BLSE) has signed an agreement to acquire 55 per cent in Aadifidelis Solutions and its affiliates for an enterprise value of about Rs 190 crore.

BLSE has entered into a definitive Share Purchase Agreement (SPA) to acquire the controlling interest in Aadifidelis Solutions (ASPL) and its affiliates, a major player in India in the distribution and processing of loans for corporates and individuals.

BLSE will make an upfront investment (primary and secondary) of about Rs 71 crore with balance consideration being deferred linked to the achievement of milestones in 2024-25, BLS said in a release.

The acquisition will be an all-cash deal. The transaction will be completed in the second quarter of the fiscal.

Shikhar Aggarwal, Joint Managing Director of BLS International Services said that the signing of a definitive agreement with ASPL is a strategic move that will unveil a plethora of ...