BLS International Services Limited, a prominent global outsourcing and technology services provider for governments and diplomatic missions, has announced the acquisition of 100% share capital in BLS International Jordan, solidifying its presence in the Middle Eastern region. This strategic move is aimed at bolstering the company's visa and passport processing services.

Acquisition Details

The acquisition, valued at 5000 JOD (Jordanian Dinar), was executed by BLS International FZE, a subsidiary of the company. With this purchase, BLS International Jordan becomes a Wholly Owned Step-Down Subsidiary (SDS-WOS) of BLS International Services Limited.

Key details of the acquisition:

• Name of Entity: BLS International Jordan
• Paid-Up Share Capital: 5000 JOD
• Industry: Visa and passport processing

The entity, incorporated on 14th September 2023, will align with BLS’s core business model to manage visa and passport services in Jordan.

Strategic Importance

The acquisition aligns with BLS International's strategy to expand its footprint in the Middle East, tapping into the growing demand for efficient visa and passport processing services. Jordan, a vital gateway for travelers in the region, represents a lucrative market for such operations.

BLS International highlighted that this move would enable the company to better cater to the needs of governments and diplomatic missions while also enhancing its service offerings.

Compliance and Governance

As per Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company has duly disclosed the acquisition details to the National Stock Exchange (NSE), Bombay Stock Exchange (BSE), and Metropolitan Stock Exchange of India (MSE).

The following points were emphasized:

1. The acquisition is a cash transaction valued at 5000 JOD.
2. 100% shareholding control has been acquired by BLS International FZE.
3. The acquisition does not fall under related-party transactions.

The company also confirmed that all regulatory compliance requirements as outlined by SEBI have been adhered to.

Operational Outlook

With the establishment of this subsidiary, BLS International aims to streamline visa and passport application processes in Jordan, offering enhanced services to its clientele. This step is part of the company’s larger vision to establish a stronger global network in visa processing.

Dharak A. Mehta, Company Secretary and Compliance Officer of BLS International, expressed optimism about the acquisition:
"This acquisition marks an important milestone in BLS International’s journey of growth. We are confident that this new subsidiary will strengthen our position in the Middle East and allow us to serve our clients more effectively."

Conclusion

This acquisition reflects BLS International's continued commitment to global expansion and operational excellence. By leveraging its expertise in visa and passport processing, the company is poised to deliver significant value to stakeholders and clients in the region.

Stay tuned for further updates on BLS International’s developments in the global market.

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