BLS International Services will hold a meeting of the Board of Directors of the Company on 11 November 2024Powered by Capital Market - Live

BLS International today announced that it has successfully completed the acquisition of 51% stake in SLW Media. SLW Media is a prominent sports management company with over two decades of experience in the golf industry. The acquisition will position BLS International as a global lifestyle and service brand, seamlessly blending premium leisure experiences with its core expertise in government and travel services. From a branding perspective, the synergy between golf events and BLS International's visa and consular services creates a unique value proposition. This strategic combination highlights BLS International's ability to cater to elite, high-net-worth individuals and corporate clients, enhancing its reputation as a provider of luxury, convenience, and exclusivity. Shikhar Aggarwal, Joint Managing Director of BLS International, said, We are quite excited on closing another acquisition within a span of few weeks of completing an acquisition in Dubai. By associating with prestigious golf events across the globe, BLS will not only strengthen its brand identity in the luxury segment but will also extends its reach into the upscale sports and leisure market, aligning its image with sophistication, global access, and high-level service. This synergy would effectively elevates brand perception, associating BLS International with not just efficient government services, but also a premium lifestyle experience.Powered by Capital Market - Live

BLS International Services today announced the successful completion of its acquisition of 100% stake in Citizenship Invest (CI), a Dubai-based firm specializing in fast-track investor programs for residency and citizenship across more than 15 countries. BLS, through its wholly owned subsidiary BLS International FZE, UAE, acquired CI for a total purchase consideration of USD 31 million (Rs 260 crore), fully funded through internal accruals. All necessary government and regulatory approvals were obtained ahead of schedule. For the calendar year 2023, Citizenship Invest reported audited revenues of USD 9.6 million (Rs 81 crore) and an EBITDA of USD 4.4 million (Rs 37 crore), with a robust EBITDA margin of 45%. The company experienced notable growth in 2023, with a 28% increase in revenue and a 43% rise in EBITDA. Powered by Capital Market - Live

The transaction would be funded through internal accruals. The transaction is expected to be completed by 31 October 2024, subject to necessary approvals. Citizenship Invest is a Dubai-based advisory firm specializing in fast-track investor programs for obtaining residence and citizenship across more than 15 countries. Citizenship Invest has emerged as a key player in the citizenship and residency application market, offering services through 20 programs. To date, CI has successfully assisted over 1,800 clients from more than 85 nationalities, maintaining an impressive 99% application success rate - significantly higher than the industry average of 80%. For the calendar year 2023, Citizenship Invest reported audited revenues of $9.6 million (approximately Rs 81 crore) and an EBITDA of $4.4 million (nearly Rs 37 crore), reflecting a robust EBITDA margin of 45%. In CY23, the business witnessed a revenue growth of 28%, EBITDA growth of 43% and its margin expanded by 470. This acquisition marks a strategic expansion of BLS portfolio in Visa & Consular services, particularly in long-term visa solutions such as citizenship and residency services. Over its 15 years of operation, CI has built a strong brand and goodwill among high-net-worth individual (HNWI) clients, establishing itself as a reliable entity for citizenship and residency visa applications. Leveraging BLS' extensive global network across 66 countries, the acquisition is expected to significantly boost overall processing volumes. Shikhar Aggarwal, Joint Managing Director of BLS International Services, said: 'We are thrilled to announce the acquisition of Citizenship Invest, a company known for its expertise in long-term visa applications through citizenship and residency programs. This acquisition underscores our commitment to broadening our service offerings within the Visa & Consular space, and aligns with our strategic vision of enhancing synergies and boosting EBITDA. The company's outstanding 99% application success rate, combined with its high revenue per application, aligns perfectly with our customer-centric philosophy. By integrating CI into our portfolio, we are enhancing our capabilities in offering long-term visa solutions and further solidifying our position as a comprehensive global provider of visa and consular services. We are confident this acquisition will drive growth, increase application volumes, and strengthen our presence in the international market. BLS International Services is global tech-enabled services partner for governments and citizens. It operates in the domain of visa, passport, consular, citizen, e-governance, attestation, biometric, e-visa, and retail services since 2005. The company works with over 46 client governments including diplomatic missions, embassies & consulates and leverages technology and processes that ensure data security. The company's consolidated net profit jumped 70.16% to Rs 120.78 crore in Q1 FY25 as compared with Rs 70.98 crore in Q1 FY24. Revenue from operations jumped 28.47% YoY to Rs 492.66 crore during the quarter, the growth was mainly driven by the Visa & Consular business which witnessed a robust growth of 35.9% YoY in revenue. The scrip fell 3.86% to currently trade at Rs 439.75 on the BSE. Powered by Capital Market - Live

BLS International Services today announced the signing of a definitive agreement to acquire a 100% stake in Citizenship Invest (CI), a Dubai-based advisory firm specializing in fast-track investor programs for obtaining residence and citizenship across more than 15 countries. The acquisition value of 100% stake is US$ 31.0 mn (~Rs 260 crore) and the transaction would be funded through internal accruals. The transaction is expected to be completed by 31 October 2024, subject to necessary approvals. This acquisition marks a strategic expansion of BLS portfolio in Visa & Consular services, particularly in long-term visa solutions such as citizenship and residency services. Over its 15 years of operation, CI has built a strong brand and goodwill among high-net-worth individual (HNWI) clients, establishing itself as a reliable entity for citizenship and residency visa applications. Leveraging BLS' extensive global network across 66 countries, the acquisition is expected to significantly boost overall processing volumes. Founded in 2009, Citizenship Invest has emerged as a key player in the citizenship and residency application market, offering services through 20 programs. To date, CI has successfully assisted over 1,800 clients from more than 85 nationalities, maintaining an impressive 99% application success rate - significantly higher than the industry average of 80%. For the calendar year 2023, Citizenship Invest reported audited revenues of U$ 9.6 mn (~Rs 81 Crores) and an EBITDA of US$ 4.4 mn (~Rs 37 Crores), reflecting a robust EBITDA margin of 45%. In CY23, the business witnessed a revenue growth of 28%, EBITDA growth of 43% and its margin expanded by 470 bps compared to CY22. Powered by Capital Market - Live

The Board of BLS International Services at its meeting held on 30 August 2024 has approved to enter into the share purchase agreement to acquire 5,100 equity share i.e. 51% share capital of SLW Media (SLW), a company incorporated under the law of Companies Act 1956. Consequent to the said acquisition of 5,100 share capital of SLW, it will become a subsidiary of the company (SLW-S). This strategic move will enhance the brand equity of the company at a global scale into the rapidly growing sports and leisure sector.Powered by Capital Market - Live

BLS International Services announced that the 40th Annual General Meeting (AGM) of the company will be held on 12 September 2024.Powered by Capital Market - Live

The frontline indices traded in a narrow range with substantial gains in early afternoon trade. The Nifty traded above the 24,200 level. Media shares advanced after declining in the previous three consecutive trading sessions. At 12:26 IST, the barometer index, the S&P BSE Sensex, was up 545.01 points or 0.69% to 79,304.41. The Nifty 50 index added 167.45 points or 0.70% to 24,223.05. The broader market outperformed the headline indices. The S&P BSE Mid-Cap index advanced 1.29% and the S&P BSE Small-Cap index gained 1.32%. The market breadth was strong. On the BSE, 2,584 shares rose and 1,214 shares fell. A total of 116 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tumbled 11.53% to 18.02. Derivatives: The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, dropped 11.95% to 17.93. The Nifty 29 August 2024 futures were trading at 24,270, at a premium of 46.95 points as compared with the spot at 24,223.05 The Nifty option chain for the 29 August 2024 expiry showed maximum Call OI of 36 lakh contracts at the 25,000 strike price. Maximum Put OI of 41.7 lakh contracts were seen at 24,000 strike price. Buzzing Index: The Nifty Media index gained 2.41% to 2,052.55. The index fell 6.88% in past three consecutive trading sessions. Network 18 Media & Investments (up 7.53%), Saregama India (up 4.71%), TV18 Broadcast (up 3.12%), Zee Entertainment Enterprises (up 2.92%), Nazara Technologies (up 2.2%), Tips Industries (up 2.06%), Dish TV India (up 1.68%), PVR Inox (up 0.63%), Hathway Cable & Datacom (up 0.28%) and Sun TV Network (up 0.05%) advanced. Stocks in Spotlight : BLS International Services surged 7.99% after the company's consolidated net profit jumped 70.16% to Rs 120.78 crore in Q1 FY25 as compared with Rs 70.98 crore in Q1 FY24. Revenue from operations jumped 28.47% YoY to Rs 492.66 crore during the quarter. AXISCADES Technologies jumped 6.62% after the company reported a net profit of Rs 17 crore in Q1 FY25, which is nearly three times as compared with the PAT of Rs 6 crore recorded in Q1 FY24. Revenue from operations amounted to Rs 223 crore for the quarter, up 4.5% YoY. Powered by Capital Market - Live

Revenue from operations jumped 28.47% YoY to Rs 492.66 crore during the quarter. The growth was mainly driven by the Visa & Consular business which witnessed a robust growth of 35.9% YoY in revenue. Profi before tax (PBT) stood at Rs 134.70, up 67.47% as compared with Rs 80.43 crore posted in Q1 FY24. During the quarter, EBITDA jumped 67.47% to Rs 134.70 crore as against Rs 80.43 crore recorded in the first quarter of FY24. EBITDA margin expanded by 615 bps to 27% during the quarter as compared with 20.9% in Q1 FY24. Revenue from Visa & Consular Business witnessed 35.9% growth to Rs 414.1 crore in Q1 FY25 as compared with Rs 304.8 crore in Q1 FY24. The said business contributes around 85% of the total revenue. During the quarter, no. of visa applications increased by 18.0% to 8.50 lakhs. Revenue from digital business fell marginally YoY to Rs 78.5 crore during the quarter. EBITDA of the digital business grew by 30.7% YoY to Rs. 11.9 crore during the quarter from Rs 9.1 crore in Q1FY24 and margin expanded to 15.2% against 11.6% recorded in Q1FY24. The said business contributes approximately 16% of the total revenue. BLS International Services is global tech-enabled services partner for governments and citizens. It operates in the domain of visa, passport, consular, citizen, e-governance, attestation, biometric, e-visa, and retail services since 2005. The company works with over 46 client governments including diplomatic missions, embassies & consulates and leverages technology and processes that ensure data security.Powered by Capital Market - Live