BLS E-Services IPO Review

 
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BLS E-Services IPO Review

IPO Open Date: 30, January, 2024

IPO Close Date: 1, February, 2024

IPO Price: ₹129 to ₹135 per share

Lot Size: 108 Shares

Listing: February 6, 2024

BLS E-Services is scheduled to hit the market on January 30, 2024 and close on February 1, 2024. BLS E-Services plans to raise around ₹310.91 Cr through an IPO with a sale of up to 23,030,000 equity shares of ₹10 each. The Retail offered 10%, QIB Shares Offered 75%, HNI Shares Offered 15%.

Incorporated in April 2016, BLS-E Services Limited stands as a prominent digital service provider specializing in Business Correspondence services for leading banks in India. The company extends its reach through Assisted E-Services and E-Governance Services at the grassroots level across the country.

BLS-E Services operates under three primary service categories: Business Correspondents Services, Assisted E-services, and E-Governance Services. As a subsidiary of BLS International Services Limited, the company plays a pivotal role in delivering visa, passport, consular, and various citizen services to state and provincial governments across Asia, Africa, Europe, South America, North America, and the Middle East. Notably, BLS-E Services Limited stands as the sole publicly listed company engaged in this specialized domain in India.

BLS E-Services


BLS E-Services IPO Details

BLS E-Services IPO opens on Jan 30, 2024, and closes on Feb 01, 2024. The Listing date for BLS E-Services IPO is on Feb 06, 2024. The price band for IPO is ₹129 to ₹135 per share and lot size of 108 Shares.

IPO DateJan 30, 2024 to Feb 01, 2024
Listing DateFeb 06, 2024
Price₹129 to ₹135 per share
Lot Size108 Shares
Issue Size₹310.91 Cr
Face Value₹10 per share

BLS E-Services IPO Tentative Timetable

BLS E-Services opening date is January 30, 2024 and close date is February 1, 2024. The IPO allotment date is February 02, 2024. The refund initiation of IPO is on February 05, 2024. The credit of shares in demat account is on February 05, 2024. The listing date is on February 06, 2024.

EventDate
IPO OpeningJan 30, 2024
IPO ClosingFeb 01, 2024
IPO Allotment DateFeb 02, 2024
Refund InitiationFeb 05, 2024
Shares Credit to DematFeb 05, 2024
Lisiting DateFeb 06, 2024

BLS E-Services IPO Lot Size

Lot Size of this IPO is 108 shares. A retail-individual investor can apply for up to 13 lots (1404 shares or ₹189,540).

CategoryLotsSharesAmount
Retail(Minimum)1108₹14,580
Retail(Maximum)131404₹189,540
S-HNI (Minimum)141,512₹204,120
B-HNI (Minimum)697,452₹1,006,020

BLS E-Services IPO Promoter Holding

Pre Issue Share Holding93.80%
Post Issue Share Holding

BLS E-Services IPO Review

BLS E-Services Ltd. (BEL), a technology-enabled digital service provider, is gearing up for its IPO, showcasing its robust growth trajectory in the G2C, B2C, and B2B segments. Operating as a Business Correspondent to major banks, BEL facilitates essential public services, social welfare schemes, healthcare, financial, educational, agricultural, and banking services across India. As of September 30, 2023, BEL boasts 98,034 BLS Touchpoints, including 1,016 BLS Stores, forming a significant interface for citizens in areas with low internet penetration.
Financially, BEL has demonstrated commendable growth with total income/net profit of Rs. 246.29 cr. / Rs. 20.33 cr. in FY23. Recent acquisitions, including Starfin and ZMPL, have contributed to this upward trend. With an average RoNW of 26.26% and an average EPS of Rs. 1.89 over the last three fiscal years, BEL aims to continue its growth trajectory with more planned acquisitions. Despite being fully priced based on FY24 annualized earnings, the company's promising future prospects make it an attractive option for investors seeking medium to long-term rewards.

While BEL has not declared dividends for the reported periods, its prudent dividend policy based on future performance adds to its appeal. As the second company of the BLS group, following the success of BLS International Services Ltd. (BISL), BEL is poised to become a key player in the technology-enabled digital services landscape, aligning with the government's “Digital India” initiative. The IPO, managed by Unistone Capital, offers investors an opportunity to tap into the promising future of technology-driven services in India.

BEL's all-encompassing digital service model, coupled with its strategic positioning in the “Digital India” landscape, suggests bright prospects. The IPO, although fully priced based on FY24 earnings, provides investors with a chance to capitalize on the company's well-established infrastructure and growth potential. Considering the ongoing momentum in the technology-driven service sector and BEL's integrated approach, investors with a medium to long-term horizon may find this IPO a compelling opportunity for potential rewards.

BLS E-Services IPO Subscription Status (Bidding Details)

Table not found

BLS E-Services IPO Broker Recommendations

  • Capital Market: To be updated soon
  • Anand Rathi: To be updated soon
  • SMC Global: To be updated soon
  • Arihant Capital: To be updated soon

BLS E-Services IPO FAQs

What is BLS E-Services IPO?

BLS E-Services is issuing 23,030,000 equity shares with a face value of ₹10 each, totaling up to ₹310.91 Cr. The shares are being offered at a price of ₹129 to ₹135 each, with a minimum order quantity of 108 shares.

Kfin Technologies Limited is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.

When BLS E-Services IPO will open?

BLS E-Services will open on January 30, 2024 for QIB, NII, and Retail Investors.

When BLS E-Services IPO will end?

BLS E-Services will end on February 1, 2024.

What is BLS E-Services IPO Size?

BLS E-Services IPO size is ₹310.91 Cr.

What is BLS E-Services IPO Price Band?

BLS E-Services price band is ₹129 to ₹135 per share.

What is the BLS E-Services IPO Allotment Date?

BLS E-Services allotment date is February 02,2024.

What is the BLS E-Services IPO Listing Date?

BLS E-Services listing date is February 06, 2024. The IPO is to be listed on BSE and NSE.

How to BLS E-Services IPO through Zerodha?

To apply for the IPO “BLS E-Services” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.

How to Apply BLS E-Services IPO through Upstox?

To apply for the IPO “BLS E-Services” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.

How to check BLS E-Services IPO Allotment Status?

For BLS E-Services IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.

What is BLS E-Services IPO GMP?

You can check out here: BLS E-Services IPO GMP

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Article By: Manish Sharma
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I'm tech-savvy, loves to write about saving, investing and proper financial planning. Also, I am a blogger, share everything with 100% transparency and the best of my knowledge.

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