BLS E- Services Private Limited (BLS) acquired close to 90 per cent equity shares of Zero Mass Pvt Ltd (ZMPL) for a total consideration of Rs 106.44 crore, including the entire stake of 63.94 per cent held by the main promoter Anurag Gupta.
Dua Associates’ team led by Partner, Prateek Bedi and Senior Advisor, Sunil Malik along with Nityashjit Kaur, Principal Associate and Varun Mathur, Senior Associate advised in the documentation for the transaction and assisted in closing the transaction.
Corporate Professionals advised BLS on the due diligence and other aspects of the transaction. AZB Partners advised the selling shareholders on 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 carried out the transaction as it plans to extend and consolidate its Business Correspondents (BC) business through this acquisition.