BLS E-Services Completes Acquisition of 57% Controlling Stake in Aadifidelis Solutions and Affiliates

Mumbai, 29th November 2024: BLS E-Services Limited (BLSe), a technology-enabled digital service provider, today announced successful completion of its acquisition of 57% controlling stake in Aadifidelis Solutions Pvt Ltd and its affiliates (ASPL), one of the largest players in India in the distribution and processing of loans for corporates and individuals, for an Enterprise Value of approx. Rs. 190 Crores.

BLSe acquired the 57% stake in ASPL for a total consideration value of approx. Rs 123 Cr. The company has made an upfront investment of approx. Rs 78 Cr which includes Rs 25 Cr of primary infusion into ASPL. Additional payments would be made on achievement of certain EBITDA milestones in FY2024-25 and FY2025-26.

ASPL operates through a network of 8,600 channel partners who source loan inquiries across 17 states and union territories. ASPL currently facilitates an average monthly loan disbursement of Rs. 1,500+ Crores.

BLSe will leverage ASPL’s expertise and established relationship with top-tier financial institutions to complement its Business Correspondent services, unveiling a plethora of cross-selling opportunities. The integration of ASPL into BLSe will also ensure streamlined service offerings for BLSe, meanwhile improving operational efficiencies and expanding market reach.

Lagrange Point Advisors LLP, Mumbai acted as the transaction advisor to BLS on this transaction.

Commenting on the acquisition, Mr. Shikhar Aggarwal, Chairman, BLS E-Services Ltd. said: “We are extremely happy to close acquisition of a controlling stake in ASPL, a distinguished entity in the realm of loan distribution and processing. This strategic move is particularly significant as it aligns with BLSE’s extensive network and will solidify our dominance in providing essential last-mile banking services to underserved communities.

This acquisition is a testament to our commitment to financial inclusion and our goal of becoming the go-to platform for comprehensive business verticals including fintech and digital platforms. We are confident that this partnership will create a formidable force in the financial sector, driving innovation and excellence in service delivery.”