What you must know about BLS E-Services IPO?
by 5paisa Research Team
24 Jan 2024
Listing Details
- Listing Exchange BSE, NSE
- Listing Date 06-Feb-24
- IPO Price Range ₹129
- Listing Price ₹309
- Listing Change 128.9 %
- Last Traded Price ₹207.26
- Current Change 53.5 %
BLS E-Services IPO Details
- Open Date 30-Jan-24
- Close Date 01-Feb-24
- Lot Size 108
- IPO Size ₹ 325.76 Cr
- IPO Price Range ₹ 129 to ₹ 135
- Min Investment ₹ 13932
- Listing Exchange BSE, NSE
- Basis of Allotment 02-Feb-24
- Refunds 05-Feb-24
- Credit to Demat Account 05-Feb-24
- Listing Date 06-Feb-24
BLS E-Services IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 30-Jan-24 | 2.19 | 29.92 | 50.72 | 15.93 |
| 31-Jan-24 | 2.68 | 94.29 | 126.73 | 43.03 |
| 1-Feb-24 | 123.30 | 300.14 | 237.00 | 162.47 |
BLS E-Services IPO Synopsis
BLS E-Services Limited IPO is set to open from 30th January to 1st February 2024. The company operates as a tech-driven digital service provider. The IPO includes a fresh issue of 23,030,000 shares worth ₹310.91 cr. The share allotment date is 2nd February 2024, and the IPO will be listed on 6th February 2024 on the stock exchanges. The price band is ₹129 to ₹135 per share and the lot size is 108 shares.
Unistone Capital Private Limited is the book-running lead manager for this IPO, while KFin Technologies Limited is the registrar.
Objectives of BLS E-Services IPO:
● To fund setting up BLS Stores for organic growth
● To fund technology infrastructure and develop new capabilities and consolidate the existing platforms
● Fund inorganic acquisitions
● General corporate purposes
BLS E-Services IPO Video:
About BLS E-Services
Established in 2016, BLS E-Services Limited operates as a tech-driven digital service provider. The company’s services are divided into three major categories:
● Business Correspondents services to major banks in India
● Assisted E-services
● E-Governance Services
BLS E-Services offers access points for delivery of essential public utility services, social welfare schemes, healthcare, financial, educational, agricultural and banking services for governments (G2C) and businesses (B2B). The company also offer B2C services in urban, semi-urban, rural and remote areas.
The company delivers its services via a vast network of merchants which are BLS Touchpoints and BLS Stores. Registered merchants are referred to as BLS Touchpoints and they offer a wide range of services extended by BLS E-Services. On the other hand, BLS Stores are branded stores and provide customers with their entire suite of offerings. BLS E-Services had 98,034 BLS Touchpoints, which also includes 1,016 BLS Stores as of September 2023.
Peer Comparison
● Emudhra Limited
For More Information:
Webstory on BLS E-Services IPO
BLS E-Services Financial Status
Profit and Loss
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 243.06 | 96.69 | 64.49 |
| EBITDA | 36.29 | 8.62 | 5.47 |
| PAT | 20.33 | 5.38 | 3.15 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Total Assets | 179.46 | 55.93 | 40.59 |
| Share Capital | 66.73 | 0.01 | 0.01 |
| Total Borrowings | 68.01 | 40.86 | 30.91 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Net cash generated from / (used in) operating activities | 28.87 | 19.74 | 8.64 |
| Net cash from / (used in) investing activities | -65.63 | -13.62 | -0.57 |
| Net cash flow from / (used in) financing activities | 46.42 | -7.57 | -4.81 |
| Net increase (decrease) in cash and cash equivalents | 9.66 | -1.45 | 3.26 |
BLS E-Services IPO Key Points
-
Strengths
1. The company operates on an asset-light business model.
2. It contributes to social and financial inclusion in India.
3. The company also has multiple cross-selling and up-selling opportunities, network effect and wide reach for customer acquisition.
4. Its customer acquisition and retention costs are very low.
5. The company’s business model has diverse sources of revenue.
6. It has a successful track record of acquisitions.
7. Experienced Management Team.
-
Risks
1. A big portion of revenues comes from subsidiaries, ZMPL and Starfin.
2. Deterioration in the performance of Subsidiaries can impact the business.
3. A substantial portion of revenue from a single customer which is one of the largest PSU Bank.
4. The services are offered only in Punjab, Uttar Pradesh and West Bengal.
5. The company is dependent on the application programming interface, technology and server of banks and government agencies to provide business correspondent services and G2C services.
6. High working capital requirements.
BLS E-Services
How to apply for IPO?
-
Login to your 5paisa account and select the issue in the
current IPO section -
Enter the number of lots and price at which you wish to
apply for -
Enter your UPI ID and click on submit. With this, your
bid will be placed with the exchange -
You will receive a mandate notification to block funds in
your UPI app -
Approve the mandate request on your UPI and funds
will be blocked
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BLS E-Services IPO FAQs
When does the BLS E-Services IPO opens and closes?
BLS E-Services IPO opens from 30th January to 1st February 2024.
What is the size of the BLS E-Services IPO?
The size of BLS E-Services IPO is ₹310.91 cr.
How to apply for the BLS E-Services IPO?
To apply for BLS E-Services IPO, follow the steps given below:
● Login to your 5paisa account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for the BLS E-Services IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
What is the GMP of the BLS E-Services IPO?
The GMP value of every IPO changes daily. To view today's GMP of BLS E-Services IPO visit https://www.5paisa.com/ipo/ipo-gmp
What is the price band of BLS E-Services IPO?
The price band of BLS E-Services IPO is ₹129 to ₹135 per share
What is the minimum lot size and investment required for the BLS E-Services IPO?
The minimum lot size of BLS E-Services IPO is 108 shares and the investment required is ₹13,932.
What is the allotment date of the BLS E-Services IPO?
The share allotment date of BLS E-Services IPO is 2nd February 2024.
What is the BLS E-Services IPO listing date?
The BLS E-Services IPO will be listed on 6th February 2024.
Who are the book runners for the BLS E-Services IPO?
Unistone Capital Private Limited is the book-running lead manager is the book-running lead managers for BLS E-Services IPO.
What is the objective of the BLS E-Services IPO?
BLS E-Services Limited will use proceeds for:
● To fund setting up BLS Stores for organic growth
● To fund technology infrastructure and develop new capabilities and consolidate the existing platforms
● Fund inorganic acquisitions
● General corporate purposes
Contact Details of BLS E-Services IPO
Contact Information
BLS E-Services Limited
G-4B-1, Extension, Mohan Co-operative
Indl. Estate Mathura Road,
South Delhi, New Delhi – 110044, India
Phone: +91-11- 45795002
Email: cs@blseservices.com
Website: https://www.blseservices.com/
BLS E-Services IPO Register
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: mb@unistonecapital.com
Website: https://kosmic.kfintech.com/ipostatus/
BLS E-Services IPO Lead Manager
Unistone Capital Pvt Ltd.
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