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BLS E-Services IPO

BLS E-Services IPO

  • Status: Closed
  • RHP:
  • ₹ 13,932 / 108 shares

    Minimum Investment

IPO Listing Details

  • Listing Date

    06 Feb 2024

  • Listing Price

    ₹309.00

  • Listing Change

    128.89%

  • Last Traded Price

    ₹205.51

IPO Details

  • Open Date

    30 Jan 2024

  • Close Date

    01 Feb 2024

  • IPO Price Range

    ₹ 129 to ₹ 135

  • IPO Size

    ₹ 325.76 Cr

  • Listing Exchange

    BSE, NSE

  • Listing Date

    06 Feb 2024

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Timeline Subscription Status Objective Financials SWOT FAQ Contacts

IPO Timeline

BLS E-Services IPO Subscription Status

Last Updated: 15 February 2024 5:39 PM by 5Paisa

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:

 

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

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


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. 
 

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FAQs

BLS E-Services IPO opens from 30th January to 1st February 2024.
 

The size of BLS E-Services IPO is ₹310.91  cr. 

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.

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 
 

The price band of BLS E-Services IPO is ₹129 to ₹135 per share

The minimum lot size of BLS E-Services IPO is 108 shares and the investment required is ₹13,932.

The share allotment date of BLS E-Services IPO is 2nd February 2024.

The BLS E-Services IPO will be listed on 6th February 2024.

Unistone Capital Private Limited is the book-running lead manager is the book-running lead managers for 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