BLS International Services Ltd — M&A Activity 2024

Jan 15, 2024

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January 15, 2024

National Stock Exchange of India Ltd., Exchange Plaza, C-1 Block G, Bandra Kurla Complex Bandra [E], Mumbai – 400051	BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai - 400 001	Metropolitan Stock Exchange of India Ltd., Vibgyor Towers, 4 th Floor, Plot No. C62, G - Block, Opp. Trident Hotel, Bandra Kurla, Complex, Bandra (E), Mumbai – 400098
NSE Scrip Symbol: BLS	BSE Scrip Code: 540073	MSE Scrip Symbol: BLS

Dear Sir/Madam,

Subject: Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure “ ” – Requirements) Regulations, 2015 ( Listing Regulations ) Acquisition

BLS International Services Limited (“ the Company ”) has through its Wholly Owned Subsidiary BLS International FZE (“ BLS FZE ”) has entered into definitive share purchase agreement to acquire 100% equity shares of iData Danışmanlık ve Hizmet Dış Ticaret A.Ş. (“iData”) .

The details with respect to the said acquisition as required under Regulation 30(6) read with Schedule III thereto, the SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated July 11, 2023 and the SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023 are attached as Annexure -A .

Kindly take the same on your record and bring notice to all the concerned.

For BLS International Services Limited

DHARAK Digitally signed by ARVIND DHARAK ARVIND MEHTA Date: 2024.01.15 20:16:14 MEHTA +05'30'

…………………. Dharak A. Mehta Company Secretary & Compliance Officer ICSI Membership No.: FCS12878

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Annexure A

The details as required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Schedule III thereto, the SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated July 11, 2023 and the SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023 are given below :

SI. No.	Details to be provided	Information
1.	Name of the target entity, details in brief such as size, turnover etc.	Name of Target Entity:iData Danışmanlık ve Hizmet Dış Ticaret A.Ş.(“ iData”). Details as per last audited financials for the calendar year ended 31stDecember 2022 Authorised Share Capital:Euro 408,915 Paid up Share Capital:Euro 408,915 Turnover:Consolidated Turnover of Euro 19,905,277
2	Whether the acquisition would fall within related party transactions and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? If yes, nature of the interest and details thereof and whether the same is done at 'arm's length'	Not Applicable as acquisition is not falling within related party transaction
3	Industry to which the entity being acquired belongs	Visa Processing and Consular Services
4	Objects and effects of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity)	Expansion of existing business of the Company in new geography and with new client governments.
5	Brief details of governmental or any regulatory approvals "required for the acquisition	Intimation and Approvals required from Turkey Competition Board and from relevant Client Governments.
6	Indicative time period for completion of the acquisition	Expect to completed the acquisition by March, 31st 2024
7	Nature of Consideration whether Cash consideration or share swap and details of the same	Cash

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8	Cost of Acquisition or the price at which the shares are acquired	BLS International FZE has signed definitive share purchase agreement for acquiring 100% stake in iData and its subsidiaries, for an initial purchase consideration of Euro 50 Million and additional milestones based payments.
9	Percentage of shareholding control acquired and_/or_number of shares acquired	100%
10	Brief background about the entity acquired in terms of products/ line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief)	Date of incorporation: 05/02/1998 Product/line of business: Visa Processing and Consular Services Last 3 years consolidated turnover: Calendar Year 2022: Euro 19,905,277 Calendar Year 2021: Euro 7,504,630 Calendar Year 2020: Euro 4,779,630 Presence of entity: Turkey and has subsidiaries and associates in Central Asian and European region countries to operate under the client government contracts

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