The acquisition, valued at approximately ₹6.5 crore, will be executed on a slump sale basis. The transaction is subject to approvals from the respective banks, along with necessary regulatory and statutory clearances. Completion is also contingent on certain conditions precedent outlined in the agreement.
This strategic acquisition marks a significant step in the Company’s commitment to expand financial inclusion and enhance last-mile banking service delivery across India, particularly in Andhra Pradesh, Telangana, and other key states.
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The acquired business includes approximately 1,400 active SBI CSP codes and 80 HDFC CSP codes, with operations spread across Andhra Pradesh, Telangana, Rajasthan, Maharashtra, Odisha, and Karnataka.
It serves an estimated 4.75 million customers annually (FY 2024–25), processes around ₹8,300 crore in transaction volume, and handles approximately 16 million transactions every year.
Lokanath Panda, Chief Operating Officer, BLS E-Services, said, “We are quite excited to consolidate Sub-K’s Customer Service Points (CSP) network into our platform. This strategic move significantly enhances our operational footprint across rural and semi-urban regions, reinforcing our commitment to bridging the financial services gap.
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Shares of BLS E-Services Ltd ended at ₹196.15, up by ₹9.30, or 4.98%, on the BSE.
