BLS E-Services Subsidiary to Acquire SBI & HDFC Bank's CSPs for INR 6.5 Crores
BLS E-Services Ltd., a leading provider of e-governance services, business correspondence solutions and e-assisted services, announced that its subsidiary, Zero Mass Private Limited, has signed a definitive agreement to acquire Customer Service Points (CSPs) of State Bank of India (SBI) and HDFC Bank under the Business Correspondence (BC) business of Sub-K Impact Solutions Limited. The total consideration for the acquisition is approx. INR 6.5 Crores. The transaction is subject to approvals from the respective Banks and other regulatory/ statutory authorities, and is expected to significantly enhance BLS E-Services' operational footprint across rural and semi-urban regions, reinforcing its commitment to bridging the financial services gap.
Key Highlights
- BLS E-Services subsidiary to acquire approximately 1480 CSP codes of SBI & HDFC Bank
- Acquisition to enhance operational footprint in Andhra Pradesh, Telangana, Rajasthan, Maharashtra, Odisha, and Karnataka
- Expected to serve approximately 4.75 million customers annually
- Transaction volume estimated at INR 8,300 Crores annually
- Acquisition aligns with BLS E-Services' long-term vision of providing accessible, technology-driven solutions nationwide