BLS E-Services Limited is set to make waves with its Initial Public Offering (IPO), aiming to raise Rs 310.91 crores through a fresh issue of 2.3 crore shares. This article delves into the intricate details of the BLS E-Services IPO, providing investors with a comprehensive overview.
IPO Details:
IPO Date: January 30, 2024, to February 1, 2024
Listing Date: February 6, 2024
Face Value: ₹10 per share
Price Band: ₹129 to ₹135 per share
Lot Size: 108 Shares
Total Issue Size: 23,030,000 shares (aggregating up to ₹310.91 Cr)
Issue Type: Book Built Issue IPO
Listing At: BSE, NSE
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BLS E-Services IPO Reservation:
- QIB Shares Offered: Not less than 75% of the Net Issue
- Retail Shares Offered: Not more than 10% of the Net Issue
- NII (HNI) Shares Offered: Not more than 15% of the Net Issue
BLS E-Services IPO Timeline (Tentative Schedule):
- IPO Open Date: Tuesday, January 30, 2024
- IPO Close Date: Thursday, February 1, 2024
- Basis of Allotment: Friday, February 2, 2024
- Listing Date: Tuesday, February 6, 2024
- Cut-off time for UPI mandate confirmation: 5 PM on February 1, 2024
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BLS E-Services IPO Lot Size:
Investors can bid for a minimum of 108 shares and in multiples thereof. Refer to the table below for the minimum and maximum investment details.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 108 | ₹14,580 |
| Retail (Max) | 13 | 1404 | ₹189,540 |
| S-HNI (Min) | 14 | 1,512 | ₹204,120 |
| S-HNI (Max) | 68 | 7,344 | ₹991,440 |
| B-HNI (Min) | 69 | 7,452 | ₹1,006,020 |
BLS E-Services IPO Promoter Holding:
The promoter of the company, BLS International Services Limited, holds 93.80% of the shareholding pre-issue.
About BLS E-Services Limited:
Incorporated in April 2016, BLS E-Services Limited stands as a digital service provider offering Business Correspondence services, Assisted E-Services, and E-Governance Services in India. As a subsidiary of BLS International Services Limited, it extends visa, passport, and citizen services globally.
By March 31, 2023, the company’s merchant network had expanded to 92,427, aiming to serve underserved populations. The revenue surged from ₹6,448.72 lakhs in 2021 to ₹24,306.07 lakhs in 2023.
Financial Information (Restated Consolidated):
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets (₹ Cr) | 213.77 | 179.47 | 55.93 | 40.59 |
| Revenue (₹ Cr) | 158.05 | 246.29 | 98.40 | 65.23 |
| PAT (₹ Cr) | 14.68 | 20.33 | 5.38 | 3.15 |
| Net Worth (₹ Cr) | 120.37 | 106.94 | 15.07 | 9.68 |
Key Performance Indicators:
- ROE: 33.33%
- ROCE: 30.62%
- Debt/Equity: 0.05
- RoNW: 16.46%
- P/BV: 7.2
BLS E-Services IPO Objectives:
The Net Proceeds from the IPO will be allocated towards:
- Strengthening technology infrastructure
- Initiatives for organic growth through setting up BLS Stores
- Achieving inorganic growth through acquisitions
- General corporate purposes
Conclusion:
BLS E-Services Limited’s IPO is not just a financial event; it’s an invitation to be part of a digital revolution. With its strong financials, global reach, and commitment to innovation, the IPO presents a compelling opportunity for investors seeking a stake in the future of digital services.
Disclaimer: The information provided is based on publicly available sources, and investors are advised to conduct their due diligence before making investment decisions.
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