Latest News | BLS E-Services Acquires 57 Pc Controlling Stake in Aadifidelis Solutions for Rs 123 Cr

New Delhi, Nov 26 (PTI) BLS E-Services Limited, a technology-enabled digital service provider, on Tuesday announced the completion of its acquisition of a 57 per cent controlling stake in Aadifidelis Solutions Pvt Ltd and its affiliates (ASPL) for a consideration of Rs 123 crore.

ASPL, which is in the distribution and processing of loans for corporates and individuals, has been valued at Rs 190 crore for the deal.

Also Read | How To Update Mobile Number in Aadhaar Cards? As Aadhaar Card Update Deadline Extended, Know Step-by-Step Guide.

BLS E-Services Limited (BLSe) acquired a 57 per cent stake in ASPL for a total consideration value of about Rs 123 crore, the company said in a statement.

The company has made an upfront investment of approximately Rs 78 crore which includes Rs 25 crore of primary infusion into ASPL, it said.

Also Read | What is PAN 2.0? Here’s Everything You Need to Know About New Upgrade to PAN Cards.

Additional payments would be made on achievement of certain EBITDA milestones in 2024-25 and 2025-26, it said.

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 about Rs 1,500 crore.

BLSe will leverage ASPL's expertise and established relationship with top-tier financial institutions to complement its business correspondent services, it said.

The integration of the companies will also ensure streamlined service offerings for BLSe, meanwhile improving operational efficiencies and expanding market reach, it added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)