BLS International Services' Digital Services Company Expands with Acquisition of 1,480 CSPs of SBI and HDFC to Boost Rural Presence
The acquisition includes around 1,400 active SBI CSP codes and 80 HDFC CSPs.
BLS E-Services Ltd., a digital services and e-governance company, has announced a strategic acquisition aimed at expanding its rural and semi-urban reach. Through its wholly owned subsidiary, Zero Mass Private Limited, the company has signed a definitive agreement to acquire Customer Service Points (CSPs) of State Bank of India (SBI) and HDFC Bank from Sub-K Impact Solutions Limited. The acquisition deal is valued at approximately Rs 6.5 crore.
The acquisition includes around 1,400 active SBI CSP codes and 80 HDFC CSPs. This network collectively services about 4.75 million customers annually, handling transaction volumes worth Rs 8,300 crore. These CSPs are primarily located across key Indian states such as Andhra Pradesh and Telangana. This move strengthens BLS E-Services' operational footprint in rural and semi-urban areas, supporting financial inclusion through last-mile banking solutions.
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Commenting on the development, Mr. Lokanath Panda, Chief Operating Officer of BLS E-Services Ltd., stated, “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.” The company believes this acquisition aligns with its long-term strategy of offering accessible, technology-driven banking and e-governance solutions across the country.
As of June 24, 2025, the share price of BLS E-Services Ltd. stands at Rs 196.15. The 52-week high and low are Rs 267.2 and Rs 137.8 respectively. The company is categorized under the Small-Cap segment, with a market capitalization of Rs 1,698 crore. Despite this acquisition, the stock has delivered a 1-year return of -26.59 per cent. The price-to-earnings (PE) ratio is 28.87. Key public shareholders include Sunabh Consultancy Pvt Ltd with a 4.55 per cent stake and Sukh Buildwell Pvt Ltd with 1.74 per cent holding.
Incorporated in 2016, BLS E-Services Ltd. is a subsidiary of BLS International Services Ltd. The company operates in the G2C, B2C, and B2B segments, offering a range of digital and business correspondence services. With over 1.21 lakh touchpoints and 130 million transactions in FY24, its portfolio includes acting as a business correspondent for banks like SBI and HDFC, PAN card services, bill payments, and telemedicine. A significant portion of its revenue—97 per cent—comes from services, while 3 per cent is from product sales.
This acquisition further supports the Government of India’s financial inclusion agenda and reflects BLS E-Services' role in transforming digital banking accessibility in rural India.
Disclaimer: The article is for informational purposes only and not investment advice.