13 Jun 2024

BLS International Services moves up as its arm inks pact to acquire 99% stake in Balozi Liaison Services

BLS International Services is currently trading at Rs. 346.10, up by 2.55 points or 0.74% from its previous closing of Rs. 343.55 on the BSE.

The scrip opened at Rs. 346.55 and has touched a high and low of Rs. 352.65 and Rs. 345.75 respectively. So far 74090 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 430.00 on 01-Feb-2024 and a 52 week low of Rs. 186.95 on 13-Jun-2023.

Last one week high and low of the scrip stood at Rs. 352.65 and Rs. 310.55 respectively. The current market cap of the company is Rs. 14254.47 crore.

The promoters holding in the company stood at 71.52%, while Institutions and Non-Institutions held 8.72% and 19.76% respectively.

BLS International Services’ wholly owned subsidiary -- BLS International FZE has entered into share transfer agreement to acquire 99% equity shares of Balozi Liaison Services, a company incorporated under the law of Egypt, consequent to the said acquisition of shares in share capital of Balozi Liaison Services, Egypt, it will become a step down subsidiary of the company. 

The step down subsidiary shall inter- alia deal in the existing range of business. The acquisition will be completed on or before July 31, 2024.

BLS International Services is a part of the four decades old BLS Group with a global presence and diversified range of services in polymers and petrochemicals, education, electronics, asset management, visa processing and management consulting.