BLS E-Services Ltd. IPO
BLS E-Services Ltd.
IPO Listing Details
Listed On
BSE & NSE
Listed On
Issue Price
₹135
Issue Price
Listing Price
₹309
Listing Price
Listing Gains
+₹174.00 (+128.89%)
Listing Gains
IPO Details
Bidding Dates
30 Jan - 01 Feb '24
Bidding Dates
Min. Investment
₹13,932
Min. Investment
Lot Size
108.00
Lot Size
Price Range
₹129 - ₹135
Price Range
Issue Size
297 Cr
Issue Size
Subscription Rate
- Retail Individual Investor237.00x
- Non-Institutional Investor300.14x
- Qualified Institutional Buyers123.30x
- Employees
About Company
BLS-E Services Limited is a digital service provider that was founded in April 2016 and provides Assisted E-Services, E-Governance Services at the grassroots level in India, and Business Correspondence services to major banks in the country.
The services that the company provides fall into three categories. services for business correspondents; assisted e-services; and e-government services.
Through its technology-enabled platform, the company, a subsidiary of BLS International Services Limited, offers state and provincial governments throughout Asia, Africa, Europe, South America, North America, and the Middle East visa, passport, and other citizen services. It is the only Indian listed business operating in this field.
Important Dates - BLS-E Services IPO
| Application opens on | 30th January 2024 |
| Last date of application | 1st February 2024 |
| Date of Allotment | 2nd February 2024 |
| Refund begins from | 5th February 2024 |
| Credit of shares to Demat | 5th February 2024 |
| Listing date | 6th February 2024 |
Why should you invest in BLS E-Services Ltd. IPO?
BEL is a digital service provider that offers nearly all connected services under one roof, facilitated by one-stop technology. Taking into account the government's "Digital India" initiative, this company has extremely promising future potential. Based on annualized FY24 earnings, the issue looks fully priced, but with significant infrastructure in place, it offers promising future growth. Investors may put money aside for potential medium- to long-term gains.
BLS-E Services IPO Grey Market Premium
| Date | GMP |
|---|---|
| 29th January | Rs.145 |
| 28th January | Rs.145 |
| 27th January | Rs.165 |
BLS-E Services IPO Noteworthy Highlights
The Rs 310.91 crore BLS E-Services IPO is a book-built offering. This is a completely new 2.3 crore share offering.
The following goals are what the company plans to fund with the Net Proceeds:
- Enhancing the technological framework to provide new capabilities and combining the platforms already in place
- Financing plans for natural expansion through the establishment of BLS Stores
- Acquiring companies to achieve inorganic expansion
- General corporate purposes
BLS E-Services Ltd. IPO - SWOT Analysis
Strengths
The company operates on a lean business model, focusing on minimal assets. It plays a significant role in fostering social and financial inclusion in India. Additionally, it leverages various opportunities for cross-selling and up-selling, benefits from network effects, and enjoys a broad customer reach for acquisition. Moreover, the company maintains exceptionally low costs for both acquiring and retaining customers.
Weaknesses
The company relies heavily on revenues generated by its subsidiaries, namely ZMPL and Starfin. Any decline in the performance of these subsidiaries could have a significant impact on the overall business. Additionally, a considerable portion of the company's revenue comes from a single customer, one of the largest PSU Banks, which poses a concentration risk.
Opportunities
The company's business model is characterised by diverse revenue streams, ensuring stability and resilience. It boasts a successful history of acquisitions, indicating strategic growth and adaptability. Furthermore, the company benefits from an experienced management team, bringing expertise and leadership to drive sustainable success.
Threats
The company's services are currently limited to Punjab, Uttar Pradesh, and West Bengal. Its operations heavily rely on the application programming interface, technology, and servers provided by banks and government agencies for delivering business correspondent and G2C services. Moreover, the company faces high working capital requirements to sustain its operations effectively.
Financial Snapshot - BLS-E Services IPO
Check out the financial performance of BLS-E Services for recent years:
| Financial Year | Total Assets | Total Revenues | Net Profit |
|---|---|---|---|
| March 2021 | Rs 40.59 crore | Rs 65.23 crore | Rs 3.15 crore |
| March 2022 | Rs 55.93 crore | Rs 98.40 crore | Rs 5.38 crore |
| March 2023 | Rs 179.47 crore | Rs 246.29 crore | Rs 20.33 crore |
How to apply for BLS E-Services Ltd. IPO?
You can apply for the BLS E-Services Ltd. IPO in these ways:
UPI
Link your personal bank A/C to a trusted UPI ID and map it with your TradeSmart account. Now, proceed further to book your IPO. On acceptance of the mandate, the bid amount will get blocked in your bank account Learn more.
Demat Account
1. If you are an Existing TradeSmart demat account holder and wish to apply for an BLS E-Services Ltd. click here.
2. If you don't have a TradeSmart Account? Sign up.
