BLS E- Services Private Limited (BLS) has acquired close to 90 per cent equity shares of Zero Mass for a total consideration of ₹106.44 crore, including the entire stake of 63.94% held by the main promoter Anurag Gupta.
Dua Associates advised BLS on the deal and assisted with the documentation for the transaction and with closing the transaction.
The transaction team consisted of Prateek Bedi (Partner), Sunil Malik (Senior Advisor), along with Nityashjit Kaur (Principal Associate) and Varun Mathur (Senior Associate).
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.