BLS e-Services Limited, a company that provides business correspondent, e-services and e-governance services to banking companies to operate businesses at the grassroots level, has signed a major agreement through which now Afidelis Solutions Pvt. Ltd. and its associated. companies Participation has reached 55%. Let us tell you that Afidelis Solutions Private Limited and its associate companies are one of the largest companies in the corporate and personal loan processing and distribution sector in India, whose enterprise value is approximately Rs 190 crore.
The acquisition is expected to be completed in 2025.
The company says BLSE will invest approximately Rs 71 crore and the remaining amount will be invested towards achieving the target in FY25. This acquisition will be all-cash and will be completed by Q2 FY25. ASPL operates through a hub-and-spoke model and has a presence across 17 states and union territories. ASPL’s network of over 8,600 channel partners is a robust source of loan enquiries and will be in line with BLSE’s portfolio of citizen-centric, business correspondent-led last-mile banking services.
The company will be stronger than before.
According to a report, ASPL is facilitating loan distribution of over Rs 1,500 crore on monthly average through its network of channel partners. It is listed with most major financial institutions such as ICICI Bank, HDFC Bank, Axis Bank, Bajaj Finance and Tata Capital. As per unaudited financial results for FY24, ASPL and its associates achieved revenue of Rs 577 crore and Ebitda of Rs 22 crore.
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Commenting on this, Shikhar Aggarwal, Chairman, BLS e-Services Limited, said, “We are happy to announce the signing of the agreement with ASPL. This is a strategic move that will open up many cross-selling opportunities. Our portfolio will also include specialized loan processing and distribution services. This will further strengthen our position in providing last-mile banking services.”
