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:
- Business Correspondents Services;
- Assisted E-services; and
- 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.
As of June 30, 2023, the company has a total of 3,071 employees, including 2,413 contract employees.
BLS E-Services IPO – Details
| IPO Opening Date | 30 January 2024 |
| IPO Closing Date | 01 February 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 2,30,30,000 Shares Worth ₹310.91 Crore Fresh Issue: 2,30,30,000 Shares Worth ₹310.91 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹129 – ₹135 |
| Market Lot | 108 Shares |
| Min Order | 108 Shares (1 Lot) |
| Listing At | BSE, NSE |
| Register | Kfin Technologies Limited |
| QIB Shares Offered | 75% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 10% |
BLS E-Services IPO – Date Schedule
| IPO Open Date | 30 January 2024 |
| IPO Close Date | 01 February 2024 |
| Basis of Allotment Date | 02 February 2024 |
| Initiation of Refund | 05 February 2024 |
| Credit of Shares to Demat Account | 05 February 2024 |
| IPO Listing Date | 06 February 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on 01 February 2024 |
BLS E-Services IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 108 | 14,580 |
| Retail (Max) | 13 | 1,404 | 1,89,540 |
| S-HNI (Min) | 14 | 1,512 | 2,04,120 |
| S-HNI (Max) | 68 | 7,344 | 9,91,440 |
| B-HNI (Min) | 69 | 7,452 | 10,06,020 |
Competitive Strengths
- Asset light business model.
- The company enable social and financial inclusion in India.
- Multiple cross-selling and up-selling opportunities, network effect and wide reach for customer acquisition.
- Business model with diverse sources of revenue and negligible customer acquisition and retention costs.
- Successful track record of the acquisitions.
- Experienced senior management, skilled employees, and strong parentage of our Corporate Promoter “BLS International Services Limited”
Company Promoters
- BLS International Services Limited
- Diwakar Aggarwal
- Shikhar Aggarwal
Company Financials (Restated Consolidated)
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2021 | 65.23 | 61.31 | 3.14 | 11.02 |
| 31 March 2022 | 98.39 | 91.61 | 5.37 | 8.76 |
| 31 March 2023 | 246.29 | 216.71 | 20.33 | 0 |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 33.33% |
| ROCE | 30.62% |
| Debt/Equity | 0.05 |
| RoNW | 16.46% |
| P/BV | 7.2 |
Object Of The Issue
- 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 IPO Peer Comparison
| S. No. | Face Value | Company Name | PE |
| 1 | 5 | EMudhra Limited | 56.27 |
BLS E-Services IPO Promoter Holding
| Pre Issue Share Holding | 92.28% |
| Post Issue Share Holding | 68.89% |
BLS E-Services IPO Prospectus
Company Contact Information
| 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/ |
BLS E-Services IPO Lead Manager(s)
| 1. Unistone Capital Pvt Ltd |
BLS E-Services IPO FAQs
| What is BLS E-Services IPO? BLS E-Services IPO is a main-board IPO. The issue is priced at ₹129 to ₹135 per equity share. The IPO is to be listed on BSE & NSE. |
| When BLS E-Services IPO will open? The IPO is to open on 30 January 2024 for QIB, NII, and Retail Investors. |
| What is BLS E-Services IPO Investors Portion? The investors’ portion for QIB – 75%, NII – 15%, and Retail – 10%. |
| How to Apply the BLS E-Services IPO? You can apply BLS E-Services IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the BLS E-Services IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “BLS E-Services”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the BLS E-Services IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “BLS E-Services“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the BLS E-Services IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “BLS E-Services”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the BLS E-Services IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “BLS E-Services”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is BLS E-Services IPO Size? BLS E-Services IPO size is ₹310.91 Crore. |
| What is BLS E-Services IPO Price Band? BLS E-Services IPO Price Band is ₹129 to ₹135. |
| What is BLS E-Services IPO Minimum and Maximum Lot Size? The minimum bid is 108 Shares with ₹14,580 amount while the maximum bid is 1404 Shares with ₹1,89,540. |
| What is the BLS E-Services IPO Allotment Date? BLS E-Services IPO allotment date is 02 February 2024. |
| What is the BLS E-Services IPO Listing Date? BLS E-Services IPO listing date is 06 February 2024. The IPO is to list on BSE and NSE. |
