BLS E-Services to acquire 55% stake in Aadifidelis Solutions, stock surges 10%

BLSE will acquire the controlling stake in ASPL and its affiliates for an enterprise value of ₹190 crore. The firm will make an upfront investment of ₹71 crore with the remainder being conditional on the milestones achieved during the fiscal year 2025 (FY25). The company said the acquisition will be an all-cash deal and the transaction will be completed by the second quarter of FY25.

ASPL is involved in the distribution and processing of loans for corporates and individuals and operates on a hub and spoke model. The company has a presence in 17 states and union territories across India. ASPL also has over 8,600 channel partners that source loan inquiries. This aligns with BLSE’s business correspondents-led citizen-centric last-mile banking services, it said.

ASPL facilitates an average monthly loan disbursement of over ₹1,500 crore through its channel partners. The company also works with partners like HDFC Bank, Axis Bank, Bajaj Finance, ICICI Bank and Tata Capital. According to ASPL’s unaudited financial statements of FY24, the company along with its affiliates achieved revenue of ₹577 crore with earnings before interest, tax, depreciation, and amortisation (EBITDA) of about ₹22 crore.

Shikhar Aggarwal, joint managing director of BLS International Services said the acquisition will result in several cross-selling opportunities and will allow the company to integrate specialised loan processing and distribution services into its portfolio.

“With over 6 lakh individuals frequenting our 1,00,000+ touchpoints daily, we are well-positioned to furnish ASPL with ample references for individuals seeking secured & unsecured loans at the grassroots levels in India corresponding to the location of our touchpoints,” he said.

BLS E-Services Shares have declined nearly 22% since February 2024 when the stock was listed.