BLS E-Services Limited (BLSe) has signed a binding term sheet to acquire a 100 per cent equity stake in Atyati Technologies Private Limited for a consideration based on an equity value of Rs 154 crore, subject to certain conditions.
The acquisition, structured as an all-cash deal, is expected to be completed by March 31, 2026, subject to approvals from lenders, relevant banks and financial institutions, as well as statutory, regulatory and shareholder approvals, and the execution of definitive agreements.
Founded in 2006 and headquartered in Bengaluru, Atyati Technologies provides technology platforms focused on financial inclusion, rural banking, last-mile agent banking and doorstep banking services. Its proprietary platforms, Ganaseva, Swayam and Aayam, extend core banking systems to underserved rural, semi-urban and urban areas, enabling Banking Correspondents (BCs/Bank Mitras) to deliver a broad range of financial services.
Atyati partners with over 30 banks and financial institutions and facilitates BC services through more than 25,900 Customer Service Points (CSPs), covering nearly one lakh villages across 28 states in India.
The acquisition is expected to strengthen BLSe’s relationships with public and private sector banks and provide immediate access to Atyati’s advanced micro-lending platform, unlocking higher-margin credit distribution opportunities. The combined entity will operate over 70,000 CSP touchpoints, integrating Atyati’s 25,900 CSPs with BLSe’s existing network of 46,000 CSPs.
The expanded footprint is expected to enhance transaction volumes, cross-selling opportunities and geographic penetration in high-growth rural and semi-urban markets, while reducing third-party dependencies.
Shikhar Aggarwal, Chairman, BLS E-Services Limited, said the acquisition aligns with the company’s inorganic growth strategy and strengthens its role in India’s financial inclusion ecosystem. He added that the combined scale will deliver operational efficiencies, diversify revenue streams and create new opportunities in digital lending.
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