BLS E- Services (BLSE) has entered into a definitive Share Purchase agreement (SPA), to acquire 55% controlling interest in Aadifidelis Solutions 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 around Rs 190 crore.
BLSE will make an upfront investment of around Rs 71 crore (Primary and Secondary) 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 Q2FY25. Operating through a hub-and-spoke model, with a comprehensive Pan-India presence in17 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.
ASPL currently facilitates an average monthly loan disbursement of Rs 1,500+ crore through its extensive network of channel partners and is empanelled with the majority of leading financial institutions, like ICICI Bank, HDFC Bank, Axis Bank, Bajaj Finance, and TATA Capital, to name a few. As per the unaudited financials for FY2024, ASPL and its affiliates achieved revenue of around Rs 577 crore and the EBITDA stood at around Rs 22 crore.
BLS E-Services is a digital service provider that offers Business Correspondence services to major banks in India, Assisted E-Services, and E-Governance Services at the grassroots level in India.
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