BLS E-Services gains after board nod to acquire Atyati Tech

BLS E-Services advanced 1.97% to Rs 170.85 after the company's board approved to acquire 100% stake in Atyati Technologies (ATPL) from existing shareholders, to deliver financial and banking services to rural areas in India.

Atyati Technologies, founded in 2006 and headquartered in Bangalore, Karnataka, specializes in providing technology platforms for financial inclusion, focusing on rural banking, last-mile agent banking, and doorstep banking services. Its proprietary platformsGanaseva, Swayam, and Aayamoffer comprehensive, mobility-based solutions that extend core banking systems to underserved rural, semi-urban, and urban areas. This enables banking correspondents (BCs / Bank Mitras) to deliver a wide range of financial services.

The company will acquire ATPL for a consideration of Rs 154 crore. The acquisition will be an all cash deal and is expected to be completed by 31 March 2026, subject to approvals from the lenders, relevant banks/ financial institutions, statutory/ regulators/ shareholders approval, if any, and completion of other condition precedents as will be agreed in the share purchase agreement/ definitive agreement to be executed by the relevant parties.

The acquisition is expected to provide immediate access to Atyati's advanced micro-lending platform, unlocking higher-margin credit distribution opportunities and will position the company as a more comprehensive tech-enabled BC player with enhanced product innovation and reduced third-party dependencies.

Atyati's 25,900 Customer Service Points (CSPs) complement the companys existing 46,000 CSPs, will expand the combined network to over 70,000 touchpoints and amplify transaction volumes, cross-selling potential, and geographic penetration in high growth states.

Shikhar Aggarwal, chairman of BLS E-Services, said: "We are delighted to sign the binding term sheet to acquire Atyati Technologies which is in line with our inorganic strategy to grow and enhance our service offerings and play a pivotal role in Indias financial inclusion strategy. The acquisition of Atyati Technologies represents a transformative step in BLSe's journey to redefine rural and semi-urban banking in India. By merging Atyati's extensive network of over 25,900 CSPs with our own, we are creating a powerful combined footprint exceeding 70,000 touchpoints, unlocking unparalleled scale, cost efficiencies through shared infrastructure, and new high-margin avenues in digital lending.

This synergy not only diversifies our revenue streams and strengthens geographic penetration in key states but also reinforces our mission to bridge the financial inclusion gap with cuttingedge technology and operational excellencedelivering sustainable value for all stakeholders."

BLS E-Services, a subsidiary of BLS International, stands as a leading technology-enabled digital service provider in India, offering a diverse range of services that encompass Business Correspondent (BC / Rural Banking Outlets) services, Business Facilitators, Assisted E-services, and E-Governance Services.

Powered by Capital Market - Live News