Home IPO Key Details about BLS E-Services Limited IPO, Financials GMP & More

Key Details about BLS E-Services Limited IPO, Financials GMP & More

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Key Points for this IPO:

👉The issue is entirely a fresh issue of 2.3 crore shares amounting Rs. 310.91 crores

👉Company has no debt as on 30 Sept, 2023

👉Company has incurred profits of 3.15 cr in FY 21 and 5.38 cr in FY 22

👉Company will utilize Rs. 97.59 cr. for strengthening its technology infrastructure to develop new capabilities and consolidating existing platforms, Rs. 74.78 cr. for funding organic growth initiatives by setting up BLS stores, Rs. 28.71 cr. for achieving inorganic growth through acquisitions, and the rest for general corporate purpose.

Issue DateJanuary 30, 2024 to February 1, 2024
Issue SizeRs. 310.91 crore
Fresh IssueRs. 310.91 crore
Price BandRs. 129 to 135 per share
Lot Size108 Shares
Face Valueâ‚ą10 per share
Issue TypeBook Built Issue Type
Listing AtBSE, NSE
QIB shares offeredNot less than 75% of the net issue
Retail shares offeredNot less than 10% of the net issue
NII shares offeredNot less than 15% of the net issue

Lot Size (Minimum)

Retail108 sharesRs. 14,580
Small – HNI1,512 sharesRs. 2,04,120
Big – HNI7,452 sharesRs. 10,06,020

Tentative IPO Timelines

Basis of Allotment02 Feb, 2024
Initiation of Refunds05 Feb, 2024
Credit of shares to Demat05 Feb, 2024
Listing Date06 Feb, 2024
BLS

About the Company

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 â‚ą6,448.72 lakhs, â‚ą9,669.82 lakhs and â‚ą24,306.07 lakhs, respectively.

As of June 30, 2023, the company has a total of 3,071 employees, including 2,413 contract employees.

Objects of the Issue

1. Strengthening the technology infrastructure to develop new capabilities and consolidating the existing platforms;

2. Funding initiatives for organic growth by setting up of BLS Stores;

3. Achieving inorganic growth through acquisitions; and

4. General Corporate Purposes

BLS E-Services Limited IPO Promoter Holding

The Promoter of the company is:                                                                          

  1. BLS International Services Limited
Pre-Issue shareholding93.80%
Post issue shareholdingNA

Financial Summary                                                                                                         Amount in Rs. crores

ParticularsMarch 2023March 2022March 2021
Revenue246.2998.4065.23
Net Profit / (Loss)20.335.383.15
Total Assets179.4755.9340.59

GMP / Expected Premium

GMP as on 29-01-2024 is 96%.

Please note GMP is taken from internet and is subject to change in future. Please consult your financial advisor before applying in the IPO.

Conclusion: Investors can apply for listing gain purpose basis current GMP.

Disclaimer: The information above is only for information and educational purpose. Please consult your Financial advisor before applying in the IPO.

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