BLS E Services IPO Details ( BLS E Services Limited IPO Review )
(30 Jan 2024 – 1 Feb 2024)
Founded in April 2016, BLS-E Services Limited is a digital service provider offering essential services to major banks in India, as well as Assisted E-Services and E-Governance Services at the grassroots level.
The company’s services fall into three main categories: Business Correspondents Services, Assisted E-Services, and E-Governance Services.
As a subsidiary of BLS International Services Limited, the company plays a crucial role by providing visa, passport, consular, and other citizen services to governments across Asia, Africa, Europe, South America, North America, and the Middle East through its tech-enabled platform. It stands out as the only listed company in India engaged in this domain.
As of March 31, 2023, the merchant network has expanded to 92,427, aiming to reach and assist underserved populations in remote areas.
The revenue from operations in Fiscal years 2021, 2022, and 2023 amounted to ₹6,448.72 lakhs, ₹9,669.82 lakhs, and ₹24,306.07 lakhs, respectively.
As of June 30, 2023, the company boasts a total of 3,071 employees, including 2,413 contract employees.
BLS E Services Limited IPO Competitive Strength
- Asset light business model
- We 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 our acquisitions
- Experienced senior management, skilled employees and strong parentage of our Promoters, Diwakar Aggarwal and Shikhar Aggarwal and Corporate Promoter “BLS International Services Limited”
BLS E Services IPO Financials Performance ( Results )
BLS E Services Limited Financial Information (Restated Consolidated)
All Amount in ₹ Crores
| Period Ended | Total Assets | Total Revenue | PAT | Net Worth | Borrowing |
| 31-Mar-21 | 40.59 | 65.23 | 3.15 | 9.68 | 11.02 |
| 31-Mar-22 | 55.93 | 98.40 | 5.38 | 15.07 | 8.76 |
| 31-Mar-23 | 179.47 | 246.29 | 20.33 | 106.94 | 0.00 |
| 30-Sep-23 | 213.77 | 158.05 | 14.68 | 120.37 | 0.00 |
Objective of BLS E Services IPO 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 Basic Details
| IPO Date | Jan 30, 2024 to Feb 1, 2024 |
| Listing Date | Tuesday, February 6, 2024 |
| Face Value | ₹10 per share |
| Price | ₹129 to ₹135 per share |
| Lot Size | 108 Shares |
| Issue Size | 23,030,000 shares of ₹10 (aggregating up to ₹310.91 Cr) |
| Fresh Issue | 23,030,000 shares of ₹10 (aggregating up to ₹310.91 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE, BSE |
| Share holding pre issue | 66,726,485 |
| Share holding post issue | 89,756,485 |
| Company Promoters | BLS International Services Limited |
BLS E Services IPO Reservation
| Anchor Investor Shares Offered | 40.50% of the Net Issue |
| QIB Shares Offered | 27.00% of the Net Issue |
| NII (HNI) Shares Offered | 13.50% of the Net Issue |
| Retail Shares Offered | 9.00% of the Net Issue |
| Other Shares Offered | 10.00% of the Net Issue |
| Total Shares Offered | 100.00% of the Net Issue |
BLS IPO Timetable
BLS IPO will open on January 30, 2024 and close on February 1, 2024. You can join BLS IPO at 10.00 A.M. to 5.00 p.m. Upto which mandate can be applied.
| Event | Date |
| Opening Date | 29 January 2024 (Monday) |
| Closing Date | 1 February 2024 (Thursday) |
| Basis of Allotment | 2 February 2024 (Friday) |
| Initiation of Refunds | 5 February 2024 (Monday) |
| Credit of Shares to Demat | 5 February 2024 (Monday) |
| Listing Date | 6 February 2024 (Tuesday) |
| Deadline for UPI mandate confirmation | 5 PM on 1 February 2024 |
BLS E Services IPO Lot Size
For retail investors in BLS E Services IPO, 108 shares will come in 1 lot or the minimum investment will be ₹14,580. Retail-individual investors can apply for up to 13 lots or the maximum investment will be ₹189,540.
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 108 | ₹14,580 |
| Retail (Max) | 13 | 1,404 | ₹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 |
BLS E Services IPO Promoter Holding
The company’s promoters include BLS International Services Limited.
| Pre Issue Share Holding | 93.80% |
| Post Issue Share Holding | 68.90% |
BLS E Services Ltd IPO Key Performance Indicator ( Valuation )
In the table given below, all the figures have been told according to the latest financial year.
| KPI | Values |
| Market Cap (₹ Cr.) | 1226.56 |
| Earning Per Share (EPS) | ₹2.24 per Equity Share |
| Net Asset Value (NAV) | ₹18.76 per Equity Share |
| P/E Ratio (P/E) (x) | 44.31 |
| Post P/E Ratio (P/E) (x) | 60.33 |
| Return on Net Worth (RoNW) (%) | 16.46 |
| Return on equity (ROE) (%) | 33.33 |
| Return on Capital Employed (ROCE) (%) | 30.62 |
| Debt/Equity Ratio | 0.05 |
| Price/Book Value Ratio | 7.20 |
BLS E Services Ltd Peer Comparison
| Company Name | Consolidated/ Standalone | CMP (₹) | Face Value | EPS (₹) | P/E Ratio | RoNW (%) | NAV (₹) |
| BLS E Services Limited | Consolidated | 135.00 | 10 | 3.02 | 60.33 | 16.46 | 18.76 |
| Peer Group | |||||||
| EMudhra Limited | Consolidated | 450.70 | 5 | 8.01 | 56.27 | 15.75 | 53.02 |
BLS E Services IPO GMP Live Update, Kostak Rate day by day
| Date | GMP | Kostak | Subject to |
| Today | ₹159 | – | – |
| 1 February 2024 | ₹159 | – | – |
| 31 January 2024 | ₹159 | – | – |
| 30 January 2024 | ₹159 | – | – |
BLS E Services IPO Detail Video:
link
BLS E Services IPO Subscription Status (Bidding Detail)
The BLS E Services IPO on February 1, 2024 at 7:30:00 PM was subscribed 162.38 times, with the retail category being subscribed 236.53 times, the NII (Non-Institutional Investor) category being subscribed 300.05 times, QIB (Qualified-Institutional Buyers) category being subscribed 123.30 times and the Other category being subscribed 15.30 times.
| Category | Subscription |
| QIB | 123.30x |
| NII | 300.05x |
| Retail | 236.53x |
| Employee | 15.30x |
| Total | 162.38x |
BLS E Services IPO Prospectus
| BLS E Services IPO DRHP | Download |
| BLS E Services IPO RHP | Download |
| BLS E Services IPO Anchor Investors Details PDF | Download |
BLS E Services IPO Rating
| Our Rating | 3.5/5.0 |
BLS E Services Company Contact Information
BLS E Services Limited
Corporate Identity Number: U74999DL2016PLC298207
Website: www.blseservices.com
Registered Office: G-4B-1, Extension, Mohan Co-operative Indl. Estate Mathura Road, South Delhi, New Delhi – 110044, India;
Corporate Office: Plot no. 865, Udyog Vihar Phase V, Gurugram, Haryana – 122016, India;
Contact Person: Sanjay Kumar Rawat, Company Secretary and Compliance Officer;
Telephone: +91-11-45795002
Email: cs@blseservices.com
Our Promoters: Bls International Services Limited, Diwakar Aggarwal and Shikhar Aggarwal
BLS E Services IPO Registrar
KFin Technologies Limited
Address: Selenium, Tower B, Plot No. 31- 32, Gachibowli, Financial District, Nanakramguda, Serilingampally, Hyderabad-500 032, Telangana, India
Telephone: + 91 40 6716 2222
Email: blseservices.ipo@kfintech.com
Investor grievance email: einward.ris@kfintech.com
Website: www.kfintech.com
Contact Person: M. Murali Krishna
SEBI Registration No: INR000000221
BLS E Services IPO Lead Manager
Unistone Capital Private Limited
Address: 305, A Wing, Dynasty Business Park, Andheri Kurla Road, Andheri East, Mumbai- 400059
Maharashtra, India
Telephone: + 91 9820057533
Email: mb@unistonecapital.com
Investor grievance email: compliance@unistonecapital.com
Website: www.unistonecapital.com
Contact Person: Brijesh Parekh
SEBI Registration No: INM000012449
BLS E Services IPO FAQs
What is the lot size of BLS E Services IPO?
The total size of BLS E Services IPO is ₹310.91 crores and this is a complete fresh Issue.
When will BLS E Services IPO start?
BLS E Services IPO will open from 30 January 2024 and IPO will close on 1 February 2024.
What is the open date of BLS E Services IPO?
BLS E Services IPO will open date from 30 January 2024.
What is the last date ( close date ) of BLS E Services IPO?
BLS E Services IPO will close from 1 February 2024.
What is the price band of BLS E Services IPO?
BLS E Services IPO price band is ₹129 to ₹135. ( Upper Price Band: ₹135, Lower Price Band: ₹129 )
What is the minimum amount required to apply for BLS E Services IPO?
The minimum investment for retailers to apply for BLS E Services IPO is ₹14,580 and the maximum investment is ₹189,540.
What is going on gray market premium of BLS E Services IPO?
View gray market premium of BLS E Services IPO by Clicking Here
How much is the GMP of BLS E Services IPO?
Watch BLS E Services IPO GMP Today: Click Here
What is the allotment date of BLS E Services IPO?
The allotment date of BLS E Services IPO is 2 February 2024.
How to check allotment status in BLS E Services IPO?
To check the allotment status of BLS E Services IPO, first of all go to the registrar website by clicking here, select your bad BLS E Services IPO name or enter your bad application number, PAN number or client ID and click on submit. ( Video Link )
What is the listing date of BLS E Services IPO?
The listing date of BLS E Services IPO is 6 February 2024.
How much will be the listing gain in BLS E Services IPO?
View listing gain of BLS E Services IPO by Clicking Here
How much time BLS E Services IPO is subscribed?
Total 162.38 times subscribed in BLS E Services IPO out of which 236.53 times subscription was done in retail quota, 300.05 times subscription in NII quota and 123.30 times subscription in QIB quota.
How to apply for BLS E Services IPO from Upstox?
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How to apply for BLS E Services PO from Zerodha?
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How to apply for BLS E Services IPO from Angle One?
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