BLS E-Services IPO is a book built issue of Rs 310.91 crores. The issue is entirely a fresh issue of 2.3 crore shares.
BLS E-Services IPO opens for subscription on January 30, 2024 and closes on February 1, 2024. The allotment for the BLS E-Services IPO is expected to be finalized on Friday, February 2, 2024. BLS E-Services IPO will list on BSE, NSE with tentative listing date fixed as Tuesday, February 6, 2024.
BLS E-Services IPO price band is set at ₹129 to ₹135 per share. The minimum lot size for an application is 108 Shares. The minimum amount of investment required by retail investors is ₹14,580. The minimum lot size investment for sNII is 14 lots (1,512 shares), amounting to ₹204,120, and for bNII, it is 69 lots (7,452 shares), amounting to ₹1,006,020.
Unistone Capital Pvt Ltd is the book running lead manager of the BLS E-Services IPO, while Kfin Technologies Limited is the registrar for the issue.
Refer to BLS E-Services IPO RHP for detailed information.
BLS E-Services IPO Details
| IPO Date | January 30, 2024 to February 1, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹129 to ₹135 per share |
| Lot Size | 108 Shares |
| Total Issue Size | 23,030,000 shares (aggregating up to ₹310.91 Cr) |
| Fresh Issue | 23,030,000 shares (aggregating up to ₹310.91 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 66,726,485 |
| Share holding post issue | 89,756,485 |
BLS E-Services IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not less than 75% of the Net Issue |
| Retail Shares Offered | Not more than 10% of the Net Issue |
| NII (HNI) Shares Offered | Not more than 15% of the Net Issue |
BLS E-Services IPO Timeline (Tentative Schedule)
BLS E-Services IPO opens on January 30, 2024, and closes on February 1, 2024.
| IPO Open Date | Tuesday, January 30, 2024 |
| IPO Close Date | Thursday, February 1, 2024 |
| Basis of Allotment | Friday, February 2, 2024 |
| Initiation of Refunds | Monday, February 5, 2024 |
| Credit of Shares to Demat | Monday, February 5, 2024 |
| Listing Date | Tuesday, February 6, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 1, 2024 |
BLS E-Services IPO Lot Size
Investors can bid for a minimum of 108 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 108 | ₹14,580 |
| Retail (Max) | 13 | 1404 | ₹189,540 |
| S-HNI (Min) | 14 | 1,512 | ₹204,120 |
| S-HNI (Max) | 68 | 7,344 | ₹991,440 |
| B-HNI (Min) | 69 | 7,452 | ₹1,006,020 |
| Lot Size Calculator | |||
BLS E-Services IPO Promoter Holding
The promoter of the company is BLS International Services Limited
| Share Holding Pre Issue | 93.80% |
| Share Holding Post Issue |
About BLS E-Services Limited
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.
BLS E-Services Limited Financial Information (Restated Consolidated)
BLS E-Services Limited’s revenue increased by 150.31% and profit after tax (PAT) rose by 277.94% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 213.77 | 179.47 | 55.93 | 40.59 |
| Revenue | 158.05 | 246.29 | 98.40 | 65.23 |
| Profit After Tax | 14.68 | 20.33 | 5.38 | 3.15 |
| Net Worth | 120.37 | 106.94 | 15.07 | 9.68 |
| Total Borrowing | 0.00 | 0.00 | 8.76 | 11.02 |
| Amount in ₹ Crore | ||||
Key Performance Indicator
The market capitalization of BLS E-Services IPO is Rs 1226.56 Cr.
| KPI | Values |
|---|---|
| ROE | 33.33% |
| ROCE | 30.62% |
| Debt/Equity | 0.05 |
| RoNW | 16.46% |
| P/BV | 7.2 |
Check BLS E-Services IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 3.05 | 2.24 |
| P/E (x) | 44.31 | 60.33 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2023 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2023 that is available in RHP.
Objects of the Issue (BLS E-Services IPO Objectives)
The company proposes to utilise the Net Proceeds towards funding the following objects:LS E-Services Limited Contact Details
BLS E-Services Limited
G-4B-1, Extension, Mohan Co-operative
Indl. Estate Mathura Road,
South Delhi, New Delhi – 110044, India
Phone: +91-11- 45795002
Email: cs@blseservices.com
Website: https://www.blseservices.com/
BLS E-Services IPO Registrar
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: mb@unistonecapital.com
Website: https://kosmic.kfintech.com/ipostatus/