BLS E-Services acquires 57% controlling stake in Aadifidelis Solutions for Rs123 cr
Acquired a stake for a total consideration value of about Rs123 cr, the company has made an upfront investment of approximately Rs 78 crore which includes Rs 25 crore of primary infusion into ASPL
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New Delhi: 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. 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.
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.
