BLS International Shares Fall 18% after MEA Bans It from Bidding for 2 Years
Moneylife Digital Team 13 October 2025
Shares of BLS International Services Ltd fall nearly 18% in the morning trade Monday after disclosing that the company has been barred by Indian ministry of external affairs (MEA) from participating in all future tenders of MEA and India mission abroad for two years. The scrip crashed as much as 17.85% to hit a 52-week low of Rs277 per share on BSE during the opening trade. It however, recovered and ended Monday 11.21% down at Rs299.40 on BSE, while the benchmark Sensex closed flat at 82,327.05 points.
 
In a regulatory filing on Saturday, BLS International stated the order for debarment has been issued due to allegations, including court cases and complaints of applicants. "This development does not impact the company’s current financials or ongoing operations. All existing contracts with Indian Missions across the globe remain valid and continue to operate as scheduled. Additionally, the order will not have any significant bearing on the company's financial outlook."
 
"In the first quarter (Q1) of FY25-26, Indian Missions contributed about 12% to the consolidated revenue and around 8% of earnings before interest, taxes, depreciation, and amortisation (EBITDA) of the company. The company is working to resolve the matter. The company views this as a procedural development within the visa outsourcing industry and remains confident of a constructive resolution in due course," it added.
 
BLS International, which works with over 46 client governments, including diplomatic missions, embassies and consulates says, "Over the past few years, BLS International has strategically diversified its business portfolio, securing new and renewed contracts with key government and institutional clients across the US, United Arab Emirates (UAE), Spain, Slovakia, Hungary, Poland, Portugal, and through the UIDAI project in India. The company further strengthened its overall business momentum by acquiring iDATA and Citizenship Invest during the last financial year. This diversification has strengthened its revenue mix and reinforced the company's resilience against regional developments."
 
The two-year prohibition effectively stops BLS International from bidding for any new projects related to the MEA or Indian missions overseas during the period. Despite this, the company stated that the order is not expected to affect its ongoing operations or financial performance, adding that it is currently reviewing the decision and considering appropriate legal options.
 
While the company has sought to reassure investors that its financial health remains stable, industry observers note that the debarment could significantly limit BLS International’s future business prospects with the MEA. 
 
With operations in over 70 countries, BLS International provides services like visas, passports, consular, citizen, e-governance, attestation, biometric, e-visa and retail services.
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