BLS E-Services IPO: BLS E-Services Limited IPO Details

BLS E-Services Limited is set to make its mark on the stock market with its Initial Public Offering (IPO) of Rs 310.91 crores. The IPO, a book-built issue, comprises an entirely fresh issue of 2.3 crore shares. The subscription period for the BLS E-Services IPO opens on January 30, 2024, and concludes on February 1, 2024. The basis of allotment is scheduled for February 2, 2024, with the listing date fixed as Tuesday, February 6, 2024.

IPO Details

Here’s a snapshot of the key details:

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IPO Date: January 30, 2024, to February 1, 2024
Basis of Allotment: February 2, 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)
Fresh Issue: 23,030,000 shares (aggregating up to ₹310.91 Cr)
Issue Type: Book Built Issue IPO
Listing At: BSE, NSE
Shareholding Pre-Issue: 66,726,485
Shareholding Post-Issue: 89,756,485

Also Read: Upcoming IPO in India

IPO Reservation

The IPO reserves a portion for different investor categories:

  • 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

Lot Size and Investment

Investors can bid for a minimum of 108 shares and in multiples thereof. The table below illustrates the minimum and maximum investment by retail investors and HNIs:

Retail (Min)1108₹14,580
Retail (Max)131404₹189,540
S-HNI (Min)141,512₹204,120
S-HNI (Max)687,344₹991,440
B-HNI (Min)697,452₹1,006,020

Also Read: IPO GMP Today Price

Objectives of the IPO

The net proceeds from the IPO will be utilized for:

  1. Strengthening technology infrastructure and developing new capabilities.
  2. Funding initiatives for organic growth through the establishment of BLS Stores.
  3. Achieving inorganic growth through acquisitions.
  4. General corporate purposes.

Financial Performance

BLS E-Services Limited has showcased impressive financial growth. The restated consolidated financials reveal a 150.31% increase in revenue and a remarkable 277.94% rise in profit after tax (PAT) between March 31, 2022, and March 31, 2023.

Period Ended30 Sep 202331 Mar 202331 Mar 202231 Mar 2021
Profit After Tax14.6820.335.383.15
Net Worth120.37106.9415.079.68
Total Borrowing0.000.008.7611.02
Amount in ₹ Crore
Financial Trends

Also Read: The IPO Cycle: From Inception to Listing

About BLS E-Services Limited

Incorporated in April 2016, BLS E-Services Limited is 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, the company provides visa, passport, consular, and other citizen services globally. By March 31, 2023, the company’s merchant network had expanded to 92,427, serving underserved populations in hard-to-reach areas.

IPO Registrar and Lead Manager(s)

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
  • Initiation of Refunds: Monday, February 5, 2024
  • Credit of Shares to Demat: Monday, February 5, 2024
  • Listing Date: Tuesday, February 6, 2024
  • Cut-off time for UPI mandate confirmation: 5 PM on February 1, 2024

Investors and enthusiasts alike are keeping a keen eye on BLS E-Services Limited, anticipating the impact of its IPO on the digital services landscape. With robust financials and a compelling business model, the company is poised for significant growth in the digital services sector.

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