BLS E-Services Limited IPO is set to launch on 30 January, 2024. The company initiated its business operations in the year 2016. The company is a provider of digital services to major banks in India in the form of business correspondence services, Assisted E-Services, E-Governance Services etc. Its services have been categorised in three types :- (i) Assisted E-Services (ii) Business Correspondence (iii) E-Governance Services. It is the only listed company engaged in this domain in India. The network of the company has expanded to 92427 merchants and it has 3071 employees currently. On a contractual basis the company has more 2413 people working for it.
BLS E-Services Limited IPO DETAILS
BLS E-Services Limited IPO is set to launch on 30 January, 2024. The subscription timeline extends till 1 February, 2024. The size for the IPO is 310.91 Crore Rs. Shares issued through fresh issue mode are worth Rs 310.91 Crore. No shares are issued through offer for sale mode. The lot size is 108 shares and the price is 129 Rs to 135 Rs per share. The company is going to get listed at both NSE and BSE. The face value per share is Rs. 10 and this is a Book Built issue. The registrar for the company is Kfin Technologies Limited.
Tabular Description of BLS E-Services Limited IPO
| IPO OPENING DATE | 30 January, 2024 |
| CLOSING DATE FOR IPO | 1 February, 2024 |
| ISSUE TYPE | Book Built Issue |
| Face Value per share | 10 Rs. per share |
| IPO price band | 129 Rs. to 135 Rs. per share |
| LOT SIZE | 108 shares |
| MINIMUM ORDER QUANTITY | 108 shares |
| ISSUE SIZE | 310.91 Crore Rs. |
| OFFER FOR SALE | No shares are issued through offer for sale mode |
| FRESH ISSUE | 310.91 Crore Rs. |
| LISTING AT | NSE, BSE |
| LISTING DATE | 6 February, 2024 |
BLS E-Services Limited IPO : IMPORTANT DATES
| IPO OPENING DATE | 30 January, 2024 |
| CLOSING DATE FOR IPO | 1 February, 2024 |
| IPO ALLOTMENT DATE | 2 February, 2024 |
| REFUNDS | 5 February, 2024 |
| DEMAT A/C CREDITED ON | 5 February, 2024 |
| IPO LISTING DATE | 6 February, 2024 |
BLS E-Services Limited IPO begins for subscription from 30 January, 2024. The IPO subscription would continue till 1 February, 2024. The allotment status for the shareholders who applied would come on 2 February, 2024. The refunds for the ones who did not get allotment would be initiated on 5 February, 2024. The DEMAT accounts of shareholders would be credited on 5 February, 2024. The listing of the company would be completed on 6 February, 2024.
BLS E-Services Limited IPO : Lead Managers
The lead managers are :
- Unistone Capital Private Limited
The minimum lot size for the company is decided at 108 shares. This holding accounts to 14580 Rs.. The maximum lot size is decided at 1404 shares. This amounts to 189540 Rs.. Hence the company’s final holdings would be set as :
| Shares | Amount | |
| Minimum | 108 shares | 14580 Rs. |
| Maximum | 1404 shares | 189540 Rs. |
OBJECTIVES FOR THE IPO
- IPO proceeds would be used for general corporate purposes.
- The company will use the IPO money for further working capital requirements.
- With the IPO money the company might pay its outstanding loans.
COMPANY FINANCIALS
| Particularly (in Crore Rs.) | 2020-21 | 2021-22 | 2022-23 |
| ASSETS | 40 | 55 | 179 |
| Revenue | 65 | 98 | 246 |
| PAT | 3 | 5 | 20 |
BLS E-Services Limited had an asset base of 40 Crore Rs in 2021 which increased to 55 Crore Rs in 2022 and 179 Crore Rs in 2023. The revenue of the firm was 65 Crore Rs in 2021. This increased to 98 Crore Rs in 2022. The revenue of the firm of the year 2023 was at 246 Crore Rs. The profit of the firm was 3 Crore Rs in 2021 which increased to 5 Crore Rs in 2022 and 20 Crore Rs in 2023.
PROS
- Its services have been categorised in three types :- (i) Assisted E-Services (ii) Business Correspondence (iii) E-Governance Services.
- It is the only listed company engaged in this domain in India.
- The network of the company has expanded to 92427 merchants and it has 3071 employees currently. On a contractual basis the company has more 2413 people working for it.
BLS E-Services Limited IPO Application Process with Zerodha
It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :
- Logging into Zerodha console through its website or KITE platform. Clicking the IPO section present in the ORDER tab.
- Click the BLS E-Services Limited IPO button and press the BID button.
- Entering the details asked for like UPI ID, Quantity and price.
- Submit the application form for the IPO.
- Visiting the application of UPI for approving the transaction.
Now, applying for an IPO online is possible with most of the Discount and online brokers.
