BLS International Acquires Majority Stake in Aadifidelis Solutions for Rs 190 Crore
BLS International announces the acquisition of a 55% stake in Aadifidelis Solutions and its affiliates for Rs 190 crore. This strategic move aims to integrate loan processing and distribution services into BLS's portfolio, enhancing cross-selling opportunities. The acquisition is expected to be completed in Q2 of the fiscal year.
![BLS International Acquires Majority Stake in Aadifidelis Solutions for Rs 190 Crore](https://devdiscourse.blob.core.windows.net/aiimagegallery/18_06_2024_10_56_47_1379351.png)
- Country:
- India
BLS International has taken a significant step by signing an agreement to acquire a 55% stake in Aadifidelis Solutions, along with its affiliates, for an enterprise valuation of Rs 190 crore. This acquisition, which involves an upfront investment of Rs 71 crore, aims to bolster BLS's portfolio significantly.
The investment, including primary and secondary components, will be partially deferred based on achieving milestones in 2024-25, according to a company statement. The transaction, fully in cash, is set for completion in the second quarter of the ongoing fiscal year.
Shikhar Aggarwal, Joint Managing Director at BLS International Services, highlighted that this acquisition will open up numerous cross-selling opportunities and further integrate specialized loan processing and distribution services into the company's portfolio. Aadifidelis Solutions, operating in 17 states and union territories, will enhance BLS's current service offerings through a robust network of over 8,600 channel partners.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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