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BLS E-Services IPO is a book build issue of ₹309.29 crores. The issue is entirely a fresh issue of 2.30 crore shares of ₹309.29 crore.
BLS E-Services IPO bidding started from Jan 30, 2024 and ended on Feb 1, 2024. The allotment for BLS E-Services IPO was finalized on Feb 2, 2024. The shares got listed on BSE, NSE on Feb 6, 2024.
BLS E-Services IPO price band is set at ₹135.00 per share . The lot size for an application is 108. The minimum amount of investment required by an retail is ₹13,932 (108 shares). The lot size investment for sNII is 14 lots (1,512 shares), amounting to ₹2,04,120, and for bNII, it is 69 lots (7,452 shares), amounting to ₹10,06,020.
Unistone Capital Pvt.Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to BLS E-Services IPO RHP for detailed Information.
| IPO Date | January 30, 2024 to February 1, 2024 |
| Listing Date | February 6, 2024 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹129 to ₹135 per share |
| Issue Price Final | ₹135 per share |
| Lot Size | 108 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 2,30,30,000 shares (aggregating up to ₹309.29 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 6,67,26,485 shares |
| Share Holding Post Issue | 8,97,56,485 shares |
BLS E-Services IPO offers total 2,30,30,000 shares. Out of which 1,55,45,250 (67.50%) allocated to QIB, 62,18,154 (27.00%) allocated to QIB, 31,09,050 (13.50%) allocated to NII, 20,72,700 (9.00%) allocated to RII and 93,27,096 (40.50%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 1,55,45,250 (67.50%) | NA |
| − Anchor Investor Shares Offered | 93,27,096 (40.50%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 62,18,154 (27.00%) | NA |
| NII (HNI) Shares Offered | 31,09,050 (13.50%) | NA |
| − bNII > ₹10L | 20,72,700 (9.00%) | 1,370 |
| − sNII < ₹10L | 10,36,350 (4.50%) | 685 |
| Retail Shares Offered | 20,72,700 (9.00%) | 19,191 |
| Shareholders Shares Offered | 23,03,000 (10.00%) | NA |
| Total Shares Offered | 2,30,30,000 (100.00%) |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only shareholder | Up to Rs 2 Lakhs | Yes |
| Shareholder + RII/NII |
|
Yes for shareholder/RII |
Note: To be eligible for the Shareholder Quota, you must hold shares in one of the following companies:
BLS E-Services IPO raises ₹125.92 crore from anchor investors. BLS E-Services IPO Anchor bid date is January 29, 2024. BLS E-Services IPO Anchor Investors list
| Bid Date | January 29, 2024 |
| Shares Offered | 93,27,096 |
| Anchor Portion Size (In Cr.) | 125.92 |
| Anchor lock-in period end date for 50% shares (30 Days) | March 3, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | May 2, 2024 |
BLS E-Services IPO opens on January 30, 2024, and closes on February 1, 2024.
| IPO Open Date | Tue, Jan 30, 2024 |
| IPO Close Date | Thu, Feb 1, 2024 |
| Tentative Allotment | Fri, Feb 2, 2024 |
| Initiation of Refunds | Mon, Feb 5, 2024 |
| Credit of Shares to Demat | Mon, Feb 5, 2024 |
| Tentative Listing Date | Tue, Feb 6, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Feb 1, 2024 |
Investors can bid for a minimum of 108 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 108 | ₹14,580 |
| Retail (Max) | 13 | 1,404 | ₹1,89,540 |
| S-HNI (Min) | 14 | 1,512 | ₹2,04,120 |
| S-HNI (Max) | 68 | 7,344 | ₹9,91,440 |
| B-HNI (Min) | 69 | 7,452 | ₹10,06,020 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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.
BLS E-Services Limited's revenue increased by 150.31% and profit after tax (PAT) rose by 277.94% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 213.77 | 179.47 | 55.93 | 40.59 |
| Total Income | 158.05 | 246.29 | 98.40 | 65.23 |
| Profit After Tax | 14.68 | 20.33 | 5.38 | 3.15 |
| Net Worth | 120.37 | 106.94 | 15.07 | 9.68 |
| Total Borrowing | 0.00 | 0.00 | 8.76 | 11.02 |
| Amount in ₹ Crore | ||||
The market capitalization of BLS E-Services IPO is ₹1226.56 Cr.
| KPI | Values |
|---|---|
| ROE | 33.33% |
| ROCE | 30.62% |
| Debt/Equity | 0.05 |
| RoNW | 16.46% |
| Price to Book Value | 7.20 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 3.05 | 2.24 |
| P/E (x) | 44.31 | 60.33 |
The company proposes to utilise the Net Proceeds towards funding the following objects:
[Dilip Davda] BEL is a one-point technology enabled digital service provider and providing almost all related services under one roof. Considering “Digital India” move by the government, this company has very bright prospects going forward. Based on annualized FY24 earnings, though the issue appears fully priced, it has bright prospects ahead with major infra in place. Investors may park funds for the medium to long term rewards. Read detail review...
Investors holding shares of BLS E-Services as of January 23, 2024 (the date of filing of the RHP with SEBI) are eligible to apply in the shareholder category of the BLS E-Services IPO. BLS International shareholders reservation portion of up to 23,03,000 Equity Shares available for allocation to BLS International Shareholders, on a proportionate basis. As per the RHP:
1. BLS E-Services shareholders holding more than and up to Rs 2 Lakh are eligible to apply for the SH category.
2. BLS E-Services shareholders (bidding up to Rs 2 lakhs) are also eligible to apply in the Retail Category.
3. Maximum Subscription Amount for Retail Investor & BLS International Shareholders Category is Rs. 2,00,000.
4. If you are a shareholder of BLS International as of January 23, 2024, you can apply under the BLS shareholder category up to Rs. 2,00,000.
5. To clarify, you can apply in the retail category up to Rs 2 lakhs and also in the BLS shareholder category up to Rs 2 lakhs. Similarly, you can apply in the S-HNI category over Rs 2 lakhs and also in the BLS International Reservation up to Rs 2 lakhs. You can apply either in the Retail category along with the BLS shareholder category or the SHNI category along with the BLS shareholder category.
6. Applicants in the BLS E-Services Shareholders Reservation Portion who bid up to Rs 200,000 are allowed to bid at the Cut-off Price.
Note: In the BLS International Shareholder Reservation, there is an upfront discount of Rs 7 and bids of 14 lots are allowed at the upper limit. However, due to lack of clarification to the bankers, many banks are not allowing 14 lots under this category.
| Listing Date | February 6, 2024 |
| BSE Script Code | 544107 |
| NSE Symbol | BLSE |
| ISIN | INE0NLT01010 |
| Final Issue Price | ₹135 per share |
| BSE Listing Group | B |
BLS E-Services Ltd.
G-4B-1, Extension, Mohan Co-operative
Indl. Estate Mathura Road,
South Delhi, New Delhi – 110044, India
South Delhi, New Delhi
Phone: +91-11- 45795002
Email: cs@blseservices.com
Website: https://www.blseservices.com/
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: mb@unistonecapital.com
Website: https://ipostatus.kfintech.com/
BLS E-Services IPO is a main-board IPO of 2,30,30,000 equity shares of the face value of ₹10 aggregating up to ₹309.29 Crores. The issue is priced at ₹135 per share. The minimum order quantity is 108.
The IPO opens on January 30, 2024, and closes on February 1, 2024.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in BLS E-Services IPO using UPI as a payment gateway. Zerodha customers can apply in BLS E-Services IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in BLS E-Services IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The BLS E-Services IPO opens on January 30, 2024 and closes on February 1, 2024.
BLS E-Services IPO lot size is 108, and the minimum amount required for application is ₹14,580.
You can apply in BLS E-Services IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for BLS E-Services IPO will be done on Friday, February 2, 2024, and the allotted shares will be credited to your demat account by Monday, February 5, 2024. Check the BLS E-Services IPO allotment status.
The BLS E-Services IPO listing date is on Tuesday, February 6, 2024.
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