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Technology-enabled digital service provider BLS E-Services Ltd on Thursday (July 2) said it has acquired a 100% stake in Atyati Technologies Private Limited for approximately ₹157 crore in an all-cash transaction.
The company said the acquisition has been successfully consummated, adding that Atyati Technologies is a Bengaluru-based AI-powered banking technology firm.
Atyati Technologies provides digital banking solutions, Business Correspondent services, micro-lending platforms, and last-mile banking infrastructure. The company said it serves more than 35 banks and financial institutions. It operates through a network of over 25,900 Customer Service Points (CSPs) across approximately 100,000 villages in India.
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The acquisition strengthens BLS E-Services' position as a technology-led financial services platform by adding Atyati's advanced banking technology capabilities, expanding its CSP network, and enhancing its ability to provide AI-driven banking and financial inclusion solutions to banks and customers nationwide.
Lagrange Point Advisors LLP acted as the transaction advisor to BLS E-Services for this transaction. Dentons Link Legal acted as the legal advisor, while Deloitte acted as the financial and tax due diligence advisor for the transaction.
Shikhar Aggarwal, Chairman, BLS E-Services Ltd, said, "We are excited to announce the successful completion of the 100% acquisition of Atyati, marking a significant milestone in our journey and reaffirming our commitment to advancing financial inclusion across the country.
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Atyati, a leading AI-powered banking technology company providing digital solutions to banks and financial institutions, perfectly complements BLS E-Services' established strengths in delivering essential last-mile banking services. This strategic fit enables us to further expand our reach and deepen our impact across underserved communities.
This acquisition is expected to unlock significant synergies for BLS-E, including network expansion, enhanced scale, and improved cost efficiencies through shared infrastructure, all of which will contribute posiƟvely to our long-term growth and margin profile.”
Shares of BLS E-Services Ltd ended at ₹252.00, down by ₹3.50, or 1.37%, on the BSE.
The company said the acquisition has been successfully consummated, adding that Atyati Technologies is a Bengaluru-based AI-powered banking technology firm.
Atyati Technologies provides digital banking solutions, Business Correspondent services, micro-lending platforms, and last-mile banking infrastructure. The company said it serves more than 35 banks and financial institutions. It operates through a network of over 25,900 Customer Service Points (CSPs) across approximately 100,000 villages in India.
ALSO READ | BLS International Services gets relief as Delhi High Court sets aside MEA debarment
The acquisition strengthens BLS E-Services' position as a technology-led financial services platform by adding Atyati's advanced banking technology capabilities, expanding its CSP network, and enhancing its ability to provide AI-driven banking and financial inclusion solutions to banks and customers nationwide.
Lagrange Point Advisors LLP acted as the transaction advisor to BLS E-Services for this transaction. Dentons Link Legal acted as the legal advisor, while Deloitte acted as the financial and tax due diligence advisor for the transaction.
Shikhar Aggarwal, Chairman, BLS E-Services Ltd, said, "We are excited to announce the successful completion of the 100% acquisition of Atyati, marking a significant milestone in our journey and reaffirming our commitment to advancing financial inclusion across the country.
ALSO READ | BLS International looks at steady 20-25% annual growth over next five years
Atyati, a leading AI-powered banking technology company providing digital solutions to banks and financial institutions, perfectly complements BLS E-Services' established strengths in delivering essential last-mile banking services. This strategic fit enables us to further expand our reach and deepen our impact across underserved communities.
This acquisition is expected to unlock significant synergies for BLS-E, including network expansion, enhanced scale, and improved cost efficiencies through shared infrastructure, all of which will contribute posiƟvely to our long-term growth and margin profile.”
Shares of BLS E-Services Ltd ended at ₹252.00, down by ₹3.50, or 1.37%, on the BSE.
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