BLS E-Services Limited IPO

Price
₹129 - ₹135
Lot
108
Subs.
162.38
Expected Listing Earning

Exp. Premium(GMP):
158.00(117.04%)
IPO Details

Open Date: 02-Feb-2024
Close Date: 03-Feb-2024
Allotment Date: 02-Feb-2024
Listing Date: 06-Feb-2024
Listing Price: N/A
Face Value: ₹10 Per Equity Share
Issue Price: ₹129-135 Per Equity Share
Issue Size: 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)
Market Lot (Min Amount): Retail - ₹14,580 : S-HNI - ₹204,120 : B-HNI - ₹1,006,020
Subscription Details Updated at End of the Day

As on

QIB

Nll

Rll

Total

Shares Offered/Reserved6,218,1543,109,0502,072,70013,702,904
Day 1 - 30-01-24 
05:00 PM
2.19x29.92x50.72x15.93x
Day 2 - 31-01-24 
05:00 PM
2.68x94.36x127.05x43.09x
Day 3 - 01-02-24 
05:00 PM
123.30x300.05x236.53x162.38x
Total No. of Application:3,961,160 (Approx.)
Retail Subscription on the basis of Apps:206.41x
Valuations

Earning Per Share(EPS)3.05/-
P/E Ratio44.31
RoNW16.46%
Net Asset Value (NAV) - Post Issue:18.76/-
Company Financials (in Crore)

 Total AssetsTotal RevenueProfit After Tax
31 Sep,2023213.77158.0514.68
31 Mar,2023179.47246.2920.33
31 Mar,202255.9398.405.38
31 Mar,202140.5965.233.15
Promoter(s)

Pre Issue Share Holding93.80%
Post Issue Share Holding68.90%
Company Promoter(s)
1. BLS International Services Limited
Issue Objective(s)

The company proposes to utilise the Net Proceeds towards funding the following objects:

  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
About 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 ₹6,448.72 lakhs, ₹9,669.82 lakhs and ₹24,306.07 lakhs, respectively.

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

Disclaimer

No financial information whatsoever published anywhere, within this application, should be considered as an advise to buy or sell securities or invest in IPOs, or as guide to do so in any way whatsoever. All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decisions. 

Also we are not a SEBi registered analyst comapny. Readers must consult a qualified financial advisor prior to making any actual investment decisions, based on information published on this application. Above information is based on information available as on date coupled with market perceptions.

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