BLS International soars 11% on acquisition of Zero Mass for RS 120Cr


Published On: Thursday, June 9, 2022 | By:

BLS International soars 11% on acquisition of Zero Mass for RS 120Cr

Shares of BLS International Services gained 11 percent to Rs 196 on the BSE in Thursday’s trade in an otherwise weak market after the company acquired Zero Mass Private Ltd (ZMPL) for Rs 120 crore. With this all-cash acquisition from the company's internal accruals, BLS International became the largest business correspondent (BC) network in India.BLS, which is primarily into visa processing, has its presence in the BC (Business Correspondent) space and the deal will help it consolidate its position in the segment.BLS now owns an 88.26 percent equity stake in ZMPL, reports said, adding that the State Bank of India (SBI) continues to hold a 6.83 percent equity stake. BLS International said that it has become the country's largest business correspondent network with this all-cash acquisition from internal accruals.

The proposed transaction is carried out through BLS E-Services Private Limited, a 100 percent subsidiary of BLS International. Through this acquisition, BLS International intends to expand and consolidate its BC Business, the company said.


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