BLS E-Services Ltd IPO
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BLS E-Services Ltd IPO Details
Details
| Total Shares Offered | Offer to Public | Retail Max (Shares) | Pre Issue Promoters Holding | Exchange | Issue size |
|---|---|---|---|---|---|
| ₹ 230.3 L | TBA | ₹ 20.73 L | ₹ 612.16 L | BSE | ₹ 310.91 Cr |
| IPO Open Date | Close Date | Lot Size | Min Investment | Issue Type | Listing Date |
| 30 Jan, 24 | 01 Feb, 24 | 108 | ₹ 13,932 | Book Building | 06 Feb, 24 |
BLS E-Services Ltd IPO Dates
Details
| Sector | Type |
|---|---|
| Sector | Computers - Software - Medium |
| Sub Sector | Small |
| Issue Type | Book Building |
Subscription Status
*Values are in Lakhs
| Investor Type | Subscription Times | Shares Offered* | Shares Bid* |
|---|---|---|---|
| QIB | 49.32x | 15545250 | 766713708 |
| NII | 300.14x | 3109050 | 933147108 |
| Retail | 237x | 2072700 | 491224176 |
| Employee | 0x | 0 | 0 |
| Total | 96.67x | 23030000 | 2226368484 |
Subscription Status
Investor Type
QIB
NII
Retail
Employee
Total
*Values are in Lakhs
BLS E-Services Ltd Financial Status
Income Statement
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 301.48 | 243.06 | 96.70 |
| EBITDA | 10.94 | 1.66 | -9.16 |
| PAT | 7.25 | 1.03 | -6.53 |
| Total Assets | 215.63 | 7.29 | 6.66 |
| Share Capital | 90.86 | 66.73 | 0.01 |
| Total Borrowings | 8.36 | 4.35 | 6.10 |
| Operating Activities (Net Cash) | 7.46 | 1.05 | -6.52 |
| Investing Activities (Net Cash) | 131.41 | 130.89 | 12.51 |
| Financing Activities (Net Cash) | 8.36 | 4.35 | 6.10 |
| Net Cashflow | 203.32 | 1.21 | 0.56 |
Particulars (in Rs. Crores)
Revenue from operations
EBITDA
PAT
Total Assets
Share Capital
Total Borrowings
Operating Activities (Net Cash)
Investing Activities (Net Cash)
Financing Activities (Net Cash)
Net Cashflow
About BLS E-Services Ltd
BLS E-Services Limited was incorporated in New Delhi, as `BLS E-Services Private Limited', a private limited company under the Companies Act, 2013, pursuant to a certificate of incorporation dated April 12, 2016, issued by the Deputy Registrar of Companies, Central Registration Centre. Thereafter, the Company was converted from a private limited company to a public limited company, pursuant to a resolution passed at the meeting of the Board of Directors held on December 23, 2022 and in the extraordinary general meeting of its Shareholders held on December 29, 2022 , and consequently, the name of the Company was changed to `BLS E-Services Limited', and a fresh certificate of incorporation dated April 10, 2023, was issued by the Registrar of Companies, National Capital Territory of Delhi and Haryana (RoC) to the Company.
In India, technology has significantly improved the accessibility and affordability of financial services that were previously inaccessible to the unbanked or underbanked masses. Business Correspondents is one of the initiatives to increase financial inclusion and provide banking services to financially excluded people in all parts of the country, especially in the rural areas. Total digital payments in India have witnessed significant growth over the past few years. Between Fiscal 2018 and 2023, the volume of digital payments transactions has increased from 14.6 billion to 113.9 billion, causing its share in overall payment transactions to increase from 59% in Fiscal 2018 to 99% in Fiscal 2023.
BLS E-Services Limited is a technology enabled digital service provider, providing (i) Business Correspondents, (ii) Assisted Eservices; and (iii) E-Governance Services at grass root levels in India. A key stakeholder in each of its business segments are merchants, for delivery of its products and services to the citizens. The Company acts as Business Correspondents to provide banking products and services on behalf of major banks in India. Further, the company provides assisted e-services through retailers and digital stores. The Company also facilitates delivery of various e-governance initiatives of the State Governments in India by providing various information communication technology enabled citizen centric services.
Peer Comparison:
- eMudhra Ltd
BLS E-Services Ltd IPO Key Points
Strengths
- Asset light business model.
- We enable social and financial inclusion in India.
- Multiple cross-selling and up-selling opportunities, network effect and wide reach for customer acquisition.
- Business model with diverse sources of revenue and negligible customer acquisition and retention costs.
- Successful track record of its acquisitions.
Risk
- The company predominantly undertakes fee and commission-based activities, and its financial performance may be adversely affected by the company inability to generate income from such activities.
- Its contracts with respect to E-Governance projects are awarded to its Promoter, BLS International Services Limited by governmental agencies for providing G2C services to the citizens.
- As a result of its limited operating history, the company may not be able to compete successfully, and it may be difficult to evaluate its business and future operating results on the basis of the company past performance.
Strategy
- Strengthening and integrating its technology backbone.
- Grow its merchants and BLS Stores network.
- Pursue strategic investments and acquisitions to enhance product and service capabilities.
- Leverage existing market position to grow each business segments, with an aim to improve cross-selling results.
- Asset light business model.
- We enable social and financial inclusion in India.
- Multiple cross-selling and up-selling opportunities, network effect and wide reach for customer acquisition.
- Business model with diverse sources of revenue and negligible customer acquisition and retention costs.
- Successful track record of its acquisitions.
How To Apply for BLS E-Services Ltd IPO Online?
Step 1:
Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.
Step 2:
From the list of open IPOs, select the IPO you want to invest.
Step 3:
Go through the IPO details like lot size, price band, about the company, etc.
Step 4:
Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.
Step 5:
Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.