BLS E-Services Limited

Incorporated in April 2016, BLS-E Services Limited is a digital service provider that offers Business Correspondence services to major banks in India, Assisted E-Services, and E-Governance Services at the grassroots level in India.

The company's service offerings can be categorized into three parts (i) Business Correspondents Services; (ii) Assisted E-services; and (iii) E-Governance Services.

The company being a subsidiary of BLS International Services Limited provides visa, passport, consular, and other citizen services to state and provincial governments across Asia, Africa, Europe, South America, North America, and the Middle East through its technology-enabled platform. It is the only listed company engaged in this domain in India.

By 31st March 2023, the merchant network had grown to 92,427 in order to serve the underserved and unserved populations in hard-to-reach areas.


 

Objects of the Issue:

 

The company proposes to utilise the Net Proceeds towards funding the following objects:

 

  • Strengthening the technology infrastructure to develop new capabilities and consolidating the existing platforms.
  • Funding initiatives for organic growth by setting up of BLS Stores.
  • Achieving inorganic growth through acquisitions; and
  • General Corporate Purposes


Issue Details


ISSUE OPENS
January 30, 2024

Issue Closes
February 1, 2024

Issue Price
₹129 to ₹135 per share

BID LOT
Minimum of 108 Equity shares & in multiple of 108 Equity shares thereafter.

ALLOTMENT DATE
February 2, 2024

IPO Ratio
QIB 75% - Retail 10% - NII 15%

IPO Size
₹310.91 Cr

Company Financials

Period Ended 30-Sep-23 31-Mar-23 31-Mar-22 31-Mar-21
Assets 213.77 179.47 55.93 40.59
Revenue 158.05 246.29 98.4 65.23
Profit After Tax 14.68 20.33 5.38 3.15
Net Worth 120.37 106.94 15.07 9.68
Total Borrowing 0 0 8.76 11.02

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