BLS E-Services IPO Price: ₹129 - ₹135
IPO Date Range: Jan 30, 2024 - Feb 1, 2024
Founded in April 2016, BLS-E Services Limited stands as a digital service provider specializing in delivering Business Correspondence services to prominent banks in India. The company also offers Assisted E-Services and E-Governance Services, primarily focusing on grassroots-level engagement within the country.
The company's services are structured into three main components:
As a subsidiary of BLS International Services Limited, the company extends visa, passport, consular, and various citizen services to state and provincial governments across Asia, Africa, Europe, South America, North America, and the Middle East through its technologically advanced platform.
As of March 31, 2023, the merchant network had expanded to 92,427, reflecting the company's commitment to reaching and serving underserved and unserved populations in challenging and remote areas.
| IPO Date | January 30, 2024 to February 1, 2024 |
| Listing Date | Tuesday, February 6, 2024 |
| 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 |
Investors have the option to bid for a minimum of 108 shares, and they can bid in multiples of this amount. The table below outlines the minimum and maximum investment amounts for retail investors and HNIs, both in terms of shares and total value.
| 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 |
| QIB Shares Offered | Not more than 75% of the Net Issue |
| Retail Shares Offered | Not less than 10% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
| 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 |
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BLS E-Services Limited witnessed a remarkable upswing in its financial performance, with a 150.31% increase in revenue and a notable 277.94% rise in profit after tax (PAT) between the financial year ending March 31, 2022, and the corresponding period concluding on March 31, 2023.
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 | 30 Sep 2023 |
|---|---|---|---|---|
| Assets | 40.59 | 55.93 | 179.47 | 213.77 |
| Revenue | 65.23 | 98.40 | 246.29 | 158.05 |
| Profit After Tax | 3.15 | 5.38 | 20.33 | 14.68 |
| Net Worth | 9.68 | 15.07 | 106.94 | 120.37 |
| Total Borrowing | 11.02 | 8.76 | 0.00 | 0.00 |
| KPI | Values |
|---|---|
| P/E (x) | 44.31 |
| Market Cap (₹ Cr.) | 1,226.56 |
| ROE | 33.33% |
| ROCE | 30.62% |
| EPS (Rs) | 3.05 |
| Debt/ Equity | 0.05 |
| RoNW | 16.42% |
The company plans to use the Net Proceeds for the following purposes:
Prospectus: Official documents that provide detailed information about the IPO and the company. BLS E-Services DRHP and BLS E-Services RHP.
An IPO, or Initial Public Offering, is the process by which a private company offers its shares to the public for the first time to raise capital.
Companies go public to raise capital for expansion, reduce debt, or for other corporate purposes. It also provides liquidity to existing shareholders.
The price range for the"BLS E-Services Limited" IPO is ₹129 to ₹135 per share.
The "BLS E-Services Limited" IPO is expected to be listed on Tuesday, 6 February 2024.
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