Upcoming IPO - BLS E-Services Limited

About Company’s Business:

They operate as a technology-enabled digital service provider, offering Business Correspondents, Assisted E-Services, and E-Governance Services at the grassroots level in India. Merchants play a crucial role as key stakeholders in each business segment, facilitating the distribution of products and services to citizens. The company serves as Business Correspondents, representing major banks in India to deliver banking products and services. Additionally, they provide assisted e-services through retail outlets and digital stores. Their involvement extends to supporting the implementation of various e-governance initiatives by state governments in India, offering technology-enabled citizen-centric services.

About the Industry:

In India, the advancement of technology has greatly enhanced the accessibility and affordability of financial services that were previously out of reach for the unbanked or underbanked populations. One initiative contributing to enhanced financial inclusion is the Business Correspondents program, aiming to provide banking services to financially underserved individuals across the nation, particularly in rural areas. The country has experienced substantial growth in total digital payments over the past few years. From Fiscal 2018 to 2023, the volume of digital payment transactions has surged from 14.6 billion to 113.9 billion, resulting in its share in overall payment transactions rising from 59% in Fiscal 2018 to 99% in Fiscal 2023.

Key Financial Information (₹ in lakhs):

Particulars For the six months ended September 30, 2023 As at and for the Fiscal March 31, 2023 March 31, 2022 March 31, 2021
Equity Share Capital 6,672.65 6,672.65 1.00 1.00
Net Worth 12,037.00 10,694.03 1,506.69 967.90
Total Income 15,804.53 24,629.27 9,839.56 6,523.35
Restated Profit / (Loss) After Tax 1,468.11 2,033.18 537.96 314.82
Restated Earnings per Share (Basic and Diluted) 2.04 3.02 0.89 0.52
Net Asset Value per Share 19.20 18.76 2.42 1.53
Total Borrowings 0.00 0.00 876.05 1,101.57

Objective of the Issue:

  1. Strengthening our technology infrastructure to develop new capabilities and consolidating our existing platforms

  2. Funding initiatives for organic growth by setting up of BLS Stores

  3. Achieving inorganic growth through acquisitions

  4. General corporate purposes.

For more detailed information, you can refer to the IPO Prospectus (RHP) filed by the company.

Important information regarding the IPO
Open Date Tuesday, January 30, 2024
Close Date Thursday, February 1, 2024
Issue Size ₹310.91 Crores
Price ₹129 to ₹135 per share
Lot Size 108 Shares
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

How to apply for this IPO?

You can locate the redirection link to the IPO on the home screen of the Dhan App. Alternatively, you can access it by navigating to the “Money” Section at the bottom right and swiping right to reach the “IPO” Tab.

Quick Apply for the IPO here!

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