Dua Associates Advises BLS E-Services Limited In Its Acquisition Of Controlling Stake In Aadifidelis Solutions Private Limited
BLS E- Services Limited (BLS) acquired 57 per cent controlling interest of Aadifidelis Solutions Pvt Ltd (ASPL) and its affiliates. This acquisition was completed for Rs 123 crore of which Rs 78 crore has been invested upfront including a Rs 25 crore primary infusion into ASPL. Additional payments are planned based on achievement of specific EBITDA milestones in the financial years 2024-25 and 2025-26 by ASPL.
The transactions closed on November 28, 2024.
Dua Associates' team comprising of Prateek Bedi, Partner; Nityashjit Kaur, Partner; Rishabh Halwai, Senior Associate; Rishika Agarwal and Vaibhav Tripathi, Associates advised on the transaction including due diligence and documentation for the transaction and assisted in closing the transaction.
BLS renders various citizen centric services in various states of India, through its own dedicated, comprehensive and web-enabled services portal to access various services provided by the Government and Service partners.
BLS plans to strengthen its position in the financial services sector and streamline service offerings, improve operational efficiencies, and expand market reach through this acquisition.
Dua Associates is a leading law firm in India with a thirty eight year old track record of delivering critical legal solutions for its clients including Fortune 500 companies, financial institutions, governments and SMEs. The Firm is widely recognized for the depth of experienced legal talent and the significant experience of its 250 professionals including 75 partners.