BSE & NSE
30 Jan - 01 Feb '24
₹129 - ₹135
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.
|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
|6th February 2024
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.
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:
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.
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.
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.
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.
Check out the financial performance of BLS-E Services for recent years:
|Rs 40.59 crore
|Rs 65.23 crore
|Rs 3.15 crore
|Rs 55.93 crore
|Rs 98.40 crore
|Rs 5.38 crore
|Rs 179.47 crore
|Rs 246.29 crore
|Rs 20.33 crore
You can apply for the BLS E-Services Ltd. IPO in these ways:
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.
What are the opening and closing dates for BLS E-Services IPO?
BLS E-Services IPO will open for subscription on January 30 and close on February 1.
What is the price band for BLS E-Services IPO?
The price band for BLS E-Services IPO is ₹129 to ₹135 per share.
Who is taking part in the OFS?
There is no Offer-For-Sale Component.
What is the minimum and maximum lot size for the BLS E-Services IPO?
BLS E-Services IPO lot size is 108 equity shares and in multiples of 108 equity shares thereafter.
What will be the promoter shareholding in BLS E-Services after the IPO?
The promoter shareholding in BLS E-Services after the IPO will reduce to 69.73% from 93.80% currently.
Who are BLS E-Services IPO Lead Managers?
Unistone Capital Pvt Ltd is the dole Book Running Lead Manager (BRLM) to the issue.
Who is the registrar of the issue?
KFin Technologies Limited is the registrar for BLS E-Services IPO.
When will the BLS E-Services IPO allotment take place?
The finalisation of the basis of allotment for BLS E-Services IPO will be done on February 2 2024, and the allotted shares will be credited to investors’ demat accounts by February 5.
When and where will the BLS E-Services shares be listed?
The equity shares of BLS E-Services are proposed to be listed on February 6,2024, on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).