BLS E-Services IPO Description – BLS E-Services is a leading technology-enabled digital service provider, offering (i) Business Correspondents services to major banks in India, (ii) Assisted E-services, and (iii) E-Governance Services at grassroots levels in India. Through its robust network, the company provides access points for the delivery of essential public utility services, social welfare schemes, healthcare, financial, educational, agricultural, and banking services for governments (G2C) and businesses (B2B) alike. Additionally, it offers a host of B2C services to citizens in urban, semi-urban, rural, and remote areas.
BLS E-Services is a subsidiary of BLS International Services which specializes in delivering visa, passport, consular, and various citizen services to state and provincial governments in India and abroad.
As of 31 March 2023, BLS E-Services boasts a network of 92,427 BLS Touchpoints and 402 BLS Stores. As of 30 June 2023, BLS E-Services employs a total of 3,071 individuals, which includes 2,413 contract employees.
Promoters of BLS E-Services – BLS International Services Limited
Table of Contents
BLS E-Services IPO Details
| BLS E-Services IPO Dates | 30 Jan – 1 Feb 2024 |
| BLS E-Services Issue Price | INR 129 – 135 per share (Shareholder Discount – INR 7 per share) |
| Fresh issue | 23,030,000 shares (INR 297.09 – 310.9 crore) |
| Offer For Sale | NIL |
| Total IPO size | 23,030,000 shares (INR 297.09 – 310.9 crore) |
| Minimum bid (lot size) | 108 shares (INR 14,580) |
| Face Value | INR 10 per share |
| Retail Allocation | 10% |
| Listing On | BSE, NSE |
BLS E-Services Financial Performance
| Â | FY 2021 | FY 2022 | FY 2023 | H1 FY 2024 |
| Revenue | 64.49 | 96.70 | 243.06 | 156.18 |
| Expenses | 61.31 | 91.63 | 216.71 | 137.27 |
| Net income | 3.15 | 5.38 | 20.33 | 14.68 |
| Margin (%) | 4.88 | 5.56 | 8.36 | 9.40 |
BLS E-Services Offer News
- BLS E-Services RHP
- BLS E-Services DRHP
- ASBA IPO Forms
- Live IPO Subscription Status
- IPO Allotment Status
BLS E-Services Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 0.52 | 0.89 | 3.02 |
| PE ratio | – | – | 42.72 – 44.70 |
| RONW (%) | 34.30 | 36.93 | 16.46 |
| NAV | 1.53 | 2.42 | 18.76 |
| ROCE (%) | 29.68 | 28.39 | 30.62 |
| EBITDA (%) | 8.39 | 8.76 | 14.73 |
| Debt/Equity | 1.14 | 1.01 | 0.05 |
BLS E-Services IPO GMP Today (Daily Trend)
| Date | Day-wise IPO GMP | Kostak | Subject to Sauda |
| 5 February 2024 | 175 | – | – |
| 3 February 2024 | 175 | – | – |
| 2 February 2024 | 170 | – | – |
| 1 February 2024 | 170 | – | – |
| 31 January 2024 | 155 | – | – |
| 30 January 2024 | 150 | – | – |
| 29 January 2024 | 140 | – | – |
| 27 January 2024 | 120 | – | – |
| 26 January 2024 | 115 | – | – |
| 25 January 2024 | 95 | – | – |
| 24 January 2024 | 55 | – | – |
BLS E-Services IPO Objectives
The company proposes to utilize the Net Proceeds towards funding the following objects:
- Strengthening the technology infrastructure to develop new capabilities and consolidating its existing platforms – INR 97.59 crore
- Funding initiatives for organic growth by setting up BLS Stores – INR 74.78 crore
- Achieving inorganic growth through acquisitions – INR 28.71 crore
- General Corporate Purposes
BLS E-Services IPO Subscription – Live Updates
| Category | QIB | NII | Retail | Shareholder | Total |
|---|---|---|---|---|---|
| Shares Offered | 6,218,154 | 3,109,050 | 2,072,700 | 2,303,000 | 13,702,904 |
| 1 Feb 2024 | 123.30 | 300.05 | 236.62 | 15.31 | 162.40 |
| 31 Jan 2024 | 2.68 | 94.09 | 125.46 | 7.38 | 42.78 |
| 30 Jan 2024 | 2.19 | 29.70 | 49.40 | 2.80 | 15.67 |
The anchor investor portion of 93,27,096 shares is not included in the above calculations.
BLS E-Services – Comparison With Listed Peers
| Company | Face Value | PE ratio | EPS | RONW (%) | NAV | Revenue (Cr.) |
| BLS E-Services | 10 | 44.70 | 3.02 | 16.46 | 18.76 | 246.29 |
| EMudhra | 5 | 500.60 | 8.01 | 15.75 | 53.02 | 248.76 |
BLS E-Services IPO Allotment Status
BLS E-Services IPO allotment status is now available on the KFin Tech website. Click on this link to get allotment status.
BLS E-Services IPO Dates & Listing Performance
| IPO Opening Date | 30 January 2024 |
| IPO Closing Date | 1 February 2024 |
| Finalization of Basis of Allotment | 2 February 2024 |
| Initiation of refunds | 5 February 2024 |
| Transfer of shares to demat accounts | 5 February 2024 |
| BLS E-Services IPO Listing Date | 6 February 2024 |
| Opening Price on NSE | INR 305 per share (up 125.93%) |
| Closing Price on NSE | INR 366 per share (up 171.11%) |
BLS E-Services IPO Reviews – Subscribe or Avoid?
Angel One –
Anand Rathi – Subscribe
Axis Capital –
Antique Stock Broking –
Arihant Capital – Neutral
Ashika Research –
Asit C Mehta –
BP Wealth – Subscribe
Capital Market – May Apply
Canara Bank Securities – Subscribe
Choice Broking – Subscribe
Dalal & Broacha –
Elite Wealth – Apply for long-term
GCL Broking –
Geojit –
GEPL Capital – Subscribe
Hem Securities – Subscribe
ICICIdirect –
Investmentz –
Jainam Broking –
DR Choksey –
LKP Research –
Marwadi Financial – Subscribe
Motilal Oswal –
Nirmal Bang –
Reliance Securities – Subscribe
Religare Broking –
Samco Securities – Subscribe
Unistone Capital – Not Rated
SMC Global – 2/5
Swastika Investmart – Subscribe for long-term
Ventura Securities – Subscribe
BLS E-Services Offer Lead Manager
UNISTONE CAPITAL PRIVATE LIMITED
A/305, Dynasty Business Park, Andheri Kurla Road,
Andheri East, Mumbai 400059, Maharashtra
Phone:+91 98200 57533
Email:Â [email protected]
Website:Â www.unistonecapital.com
BLS E-Services Offer Registrar
KFIN TECHNOLOGIES LIMITED
Selenium Tower – B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032, Telangana
Tel:Â 91 40 6716 2222
E-mail:Â [email protected]
Website:Â www.kfintech.com
BLS E-Services Contact Details
BLS E-SERVICES LIMITED
Plot no. 865, Udyog Vihar Phase V,
Gurugram, Haryana – 122016, India
Phone:Â +91-11-45795002
Email:Â [email protected]
Website: www.blseservices.com
BLS E-Services IPOFAQs
How many shares in BLS E-Services Issue are reserved for HNIs and retail investors?
The investors’ portion for QIB – 75%, NII – 15%, and Retail – 10%.
How to apply in BLS E-Services Public Offer?
The best way to apply in BLS E-Services public offer is through Internet banking ASBA (know all about ASBA here). You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.
What is BLS E-Services IPO GMP today?
BLS E-Services IPO GMP today is INR 175 per share.
What is the BLS E-Services kostak rate today?
BLS E-Services kostak rate today is INR NA per application.
What is BLS E-Services Subject to Sauda rate today?
BLS E-Services Subject to Sauda rate today is INR NA per application.
