BLS International shares zoom 17% on securing 3-year contract from MEA

Shares of BLS International Services Ltd soared on Thursday as the company secured a three-year contract from the Ministry of External Affairs (MEA) to establish and operate Indian visa application centres in China. The stock jumped 16.60 per cent to settle at Rs 325.15.

"Under the terms of the agreement, BLS International will be responsible for establishing and managing Indian Visa Application Centres (IVACs) in Beijing, Shanghai, and Guangzhou, offering streamlined, secure and customer-friendly visa services. The IVACs will incorporate enhanced infrastructure, advanced technology and multilingual staff to ensure a seamless experience for applicants," the tech-enabled services firm stated in an exchange filing.

Commenting on the pact, Shikhar Aggarwal, Joint Managing Director of BLS International, said, "We are honoured to receive this prestigious contract from the Ministry of External Affairs, Government of India and look forward to providing excellent services. We believe this is a significant milestone for BLS international and these IVACs will play a vital role in facilitating reliable and user-centric visa services. We thank the Ministry of External Affairs for its continued trust and confidence in BLS International."

The company also stated that this contract, effective October 14, reinforces its position as a trusted partner for government initiatives and its dedication to driving digital transformation and public service excellence across sectors.

"With a presence in over 70 countries, BLS International continues to lead the consular outsourcing industry, processing millions of applications annually with a focus on transparency, compliance and customer satisfaction," it added.

Prior to this, the government decided to debar the company from participating in future tenders of the MEA and Indian missions abroad for a period of two years. According to the order, the debarment will not affect the company's existing contracts, which will continue under their current terms.

Responding to the development, BLS International issued a clarification stating that the MEA's decision will not impact the company's ongoing operations or financial performance.

As of June 2025, promoters held a 70.39 per cent stake in the company.