BLS E-Services Limited IPO Detail
Incorporated in April 2016, BLS-E Services Limited is a digital service provider that offers Business Correspondence services to major banks in India, Assisted E-Services, and E-Governance Services at the grassroots level in India.
The company's service offerings can be categorized into three parts (i) Business Correspondents Services; (ii) Assisted E-services; and (iii) E-Governance Services.
The company being a subsidiary of BLS International Services Limited provides visa, passport, consular, and other citizen services to state and provincial governments across Asia, Africa, Europe, South America, North America, and the Middle East through its technology-enabled platform. It is the only listed company engaged in this domain in India.
By 31st March 2023, the merchant network had grown to 92,427 in order to serve the underserved and unserved populations in hard-to-reach areas.
The revenue from operations in Fiscal years 2021, 2022 and 2023 were ₹6,448.72 lakhs, ₹9,669.82 lakhs and ₹24,306.07 lakhs, respectively.
As of June 30, 2023, the company has a total of 3,071 employees, including 2,413 contract employees.
Company Promoters
BLS International Services LimitedIPO Details
| IPO Opening Date | Jan 30, 2024 |
| IPO Closing Date | Feb 01, 2024 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹129 - 135 per equity share |
| Market Lot | 108 Shares |
| Min Order Quantity | 108 Shares |
| Listing At | BSE, NSE |
| Issue Size | ₹310.91 Cr |
| Fresh Issue | ₹310.91 Cr |
| Offer for Sale | - |
| Retail Portion | 10% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 2.19x | - | - | 29.92x | 50.72x | 15.93x |
| Day 2 | 2.68x | - | - | 94.20x | 126.25x | 42.93x |
| Day 3 | 123.30x | - | - | 300.06x | 236.69x | 162.41x |
IPO Tentative Timetable
The BLS E-Services Limited IPO open date is Jan 30, 2024, and the close date is Feb 01, 2024. The issue may list on Feb 06, 2024.
| IPO Open Date | Jan 30, 2024 |
| IPO Close Date | Feb 01, 2024 |
| Basis of Allotment Date | Feb 02, 2024 |
| Initiation of Refunds | Feb 05, 2024 |
| Credit of Shares to Demat Account | Feb 05, 2024 |
| IPO Listing Date | Feb 06, 2024 |
IPO Lot Size
The BLS E-Services Limited IPO market lot size is 108 shares. A retail-individual investor can apply for up to 13 lots (1404 shares or ₹189540).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 108 | ₹14580 |
| Maximum | 13 | 1404 | ₹189540 |
IPO Promoter Holding
| Pre Issue Share Holding | 93.80% |
| Post Issue Share Holding |
Company Financials:
For the year/period ended (₹ in Cr.)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 40.59 | 65.23 | 3.15 |
| 31-Mar-22 | 55.93 | 98.40 | 5.38 |
| 31-Mar-23 | 179.47 | 246.29 | 20.33 |
| 30-Sep-23 | 213.77 | 158.05 | 14.68 |
Objects of the Issue:
The company proposes to utilise the Net Proceeds towards funding the following objects:
- Strengthening the technology infrastructure to develop new capabilities and consolidating the existing platforms;
- Funding initiatives for organic growth by setting up of BLS Stores;
- Achieving inorganic growth through acquisitions; and
- General Corporate Purposes
BLS E-Services Limited IPO Registrar:
KFin Technologies Limited
BLS E-Services Limited IPO Lead Manager(s):
Unistone Capital Pvt Ltd
Company Contact Information:
BLS E-Services Limited
G-4B-1, Extension, Mohan Co-operative
Indl. Estate Mathura Road,
South Delhi, New Delhi – 110044, India
