29-Jan-2024
2 mins read
BLS E-Services Limited IPO 2024 is open for subscription from Tuesday, January 30, 2024 and will close on Thursday, February 1, 2024. The price band for this IPO is decided at Rs 129 to Rs 135 per share. The minimum lot size of this application for the retail category is 108 shares. The minimum lot size for small non-institutional investors is 14 lots consisting of 1512 shares. Whereas, the minimum lot for big non-institutional investors is 69 lots consisting of 7452 shares. The minimum amount of investment required for retail category investors is Rs 14,580 (135 x 108 shares). However, for small non-institutional investors the minimum investment amount is required Rs 2,04,120 (135 x 1512 shares) and for big non-institutional investors is Rs 10,06,020 (135 x 7452 shares). BLS E-Services Limited IPO 2024 is a book-built issue of Rs 310.91 crores. The issue is entirely a fresh issue of 2.3 crore equity shares. The allotment for this IPO is expected to be finalized on Friday, February 2, 2024. BLS E-Services IPO will list on both BSE, NSE and listing date fixed on Tuesday, February 6, 2024. The book running lead manager of BLS E-Services Limited is Unistone Capital Private Limited. The registrar for this IPO is Kfin Technologies Limited.
About BLS E-Services Limited
BLS E-Services Limited is a technology enabled digital service providing company incorporated in April 2016. It provides services like Business Correspondent services to major banks in India, assisted E- services and E-Governance services at grassroots levels in India. Company also provides access points for the delivery of essential public utility services, social welfare schemes, healthcare, financial, educational services for Government and Businesses. Company’s merchants are organized in two categories: BLS Stores and BLS Touchpoints. All merchants registered with the company are treated as BLS Touchpoints and they have access to offer multiple services to customers. However BLS stores are stores which are BLS branded and offer an entire suite of offerings to the customers. As per record, on September 30, 2023 company had 98,034 BLS touchpoints which includes 1,016 BLS branded stores. By their tech enabled business model they provide Digital and Physical product and services in G2C, B2C and B2B categories in semi-urban, rural and remote areas where the internet penetration is low and citizens need assistance in basic technology enabled services. The company is a subsidiary of BLS International Services Limited. As of June 30, 2023 Company has 3,071 employees including 2,413 contract based employees.
Objectives of this Initial Public Offering (IPO)
BLS E-Services Limited is raising funds from the public to strengthen its technology infrastructure to develop new capabilities and consolidate the existing platforms. The net proceeds from the issue will fund the initiatives for organic growth by setting up of BLS Stores. Also the company is planning to do acquisitions to expand their business. Moreover, the funds will be used for the general corporate purposes like financing the capital expenditures, acquisitions, stock repurchases etc.
Financial Performance of BLS E-Services Limited
BLS E-Services Limited’s 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.
The revenue increased by 150.31% and profit after tax increased by 277.94% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30-Sep-23 | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 213.77 | 179.47 | 55.93 | 40.59 |
| Revenue | 158.05 | 246.29 | 98.4 | 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 | 0 | 8.76 | 11.02 |
| Amt in Crores |
Other Important Details of BLS E-Services Limited IPO
| IPO Date | January 30, 2024 to February 1, 2024 |
| Listing Date | 6-Feb-24 |
| Face Value | Rs 10 per share |
| Price Band | Rs 129 to Rs 135 per share |
| Lot Size | 108 Shares |
| Total Issue Size | 23,030,000 shares (amounting to Rs 310.91 Crores) |
| Fresh Issue | 23,030,000 shares (amounting to Rs 310.91 Crores) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Shareholding pre issue | 66,726,485 |
| Shareholding post issue | 89,756,485 |
Lot Size of BLS E-Services Limited IPO
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 108 | Rs14,580 |
| Retail (Max) | 13 | 1404 | Rs189,540 |
| Small HNI (Min) | 14 | 1,512 | Rs 204,120 |
| Small HNI (Max) | 68 | 7,344 | Rs 991,440 |
| Big HNI (Min) | 69 | 7,452 | Rs 1,006,020 |
IPO Reservation of BLS E-Services Limited
| 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 |
Promoters and Shareholdings of BLS E-Services Limited
The promoters of the company is BLS International Services Limited (parent company)
| Shareholding Pre Issue | 93.80% |
| Shareholding Post Issue |
Time-Table of BLS E-Services Limited IPO 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 |
Key Performance Indicator of BLS E-Services Limited IPO 2024
The market capitalization of BLS E-Services Limited Rs 1,226.56 crore.
| KPI | Values |
| ROE | 33.33% |
| ROCE | 30.62% |
| Debt/Equity | 0.05 |
| RoNW | 16.46% |
| P/BV | 7.2 |
| Pre IPO | Post IPO | |
| EPS (Rs) | 3.05 | 2.24 |
| P/E (x) | 44.31 | 60.33 |
Lead Manager(s) of BLS E-Services Limited IPO 2024
The book running lead manager for BLS E-Services Limited IPO is Unistone Capital Private Limited.
How to Apply for BLS E-Services Limited IPO 2024
Wait for the public issue to open for subscription, then click on this link to apply for the BLS E-Services Limited IPO with Bigul https://ipo.bonanzaonline.com/.
How to Check Allotment Status of BLS E-Services Limited IPO 2024
The registrar for BLS E-Services Limited IPO is Kfin Technologies Limited. To check your allotment status, please click on this link below https://ris.kfintech.com/ipostatus/
FAQs
- What is BLS E-Services Limited IPO 2024?
BLS E-Services Limited IPO 2024 is a book-built issue of Rs 310.91 crores. The issue is entirely a fresh issue of 2.3 crore equity shares. The price band for this IPO is decided at Rs 129 to Rs 135 per share. The minimum lot size of this application for the retail category is 108 shares.
- Who are the lead managers for the BLS E-Services Limited IPO 2024?
Unistone Capital Private Limited are appointed as the lead managers for the IPO.
- What is the role of Kfin Technologies Limited in this IPO?
Kfin Technologies Limited is the registrar for the BLS E-Services Limited handling the IPO’s administrative aspects.
- How can I apply for the BLS E-Services Limited IPO 2024?
The public subscription of this IPO has already begun. Visit Bigul website for the application process.
- How will the net proceeds from the IPO be utilized?
The net proceeds from the issue will fund the initiatives for organic growth by setting up of BLS Stores. Also the company is planning to do acquisitions to expand their business.
- How can I check the allotment status of the IPO?
You can check the allotment status of the BLS E-Services Limited IPO 2024 by clicking on this link https://ris.kfintech.com/ipostatus/
- What is the financial performance of BLS E-Services Limited?
BLS E-Services Limited’s revenue increased by 150.31% and profit after tax increased by 277.94% between the financial year ending with March 31, 2023 and March 31, 2022.