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  • BLS E-Services Limited

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    Hritik Sharma
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    This document summarizes key details of BLS E-Services Ltd's initial public offering, including the issue size of up to ₹311 crore with shares offered to retail, HNI and QIB investors. The company provides digital and e-governance services through over 98,000 touchpoints and stores. Proceeds will be used to expand infrastructure, set up more stores, pursue acquisitions, and general corporate purposes. Strengths include an asset-light model, cross-selling opportunities, and diversified revenue sources, while risks include reliance on a single bank and contracts awarded to its parent company.

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    BLS E SERVICES IPO

    Original Title

    BLS E-SERVICES LIMITED

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    This document summarizes key details of BLS E-Services Ltd's initial public offering, including the issue size of up to ₹311 crore with shares offered to retail, HNI and QIB investors. The company provides digital and e-governance services through over 98,000 touchpoints and stores. Proceeds will be used to expand infrastructure, set up more stores, pursue acquisitions, and general corporate purposes. Strengths include an asset-light model, cross-selling opportunities, and diversified revenue sources, while risks include reliance on a single bank and contracts awarded to its parent company.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    Download as pdf or txt
    11 views1 page

    BLS E-Services Limited

    Uploaded by

    Hritik Sharma
    This document summarizes key details of BLS E-Services Ltd's initial public offering, including the issue size of up to ₹311 crore with shares offered to retail, HNI and QIB investors. The company provides digital and e-governance services through over 98,000 touchpoints and stores. Proceeds will be used to expand infrastructure, set up more stores, pursue acquisitions, and general corporate purposes. Strengths include an asset-light model, cross-selling opportunities, and diversified revenue sources, while risks include reliance on a single bank and contracts awarded to its parent company.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 1

    Face Value ₹ 10 per equity share

    IPO Price ₹ 129 to ₹ 135 per eq. share


    Market Lot 108 shares & in multiples
    Listing At NSE , BSE
    Issue Size Up to ₹ 311 cr (Fresh issue)
    Retail Shares Offered 10 %
    NII (HNI) Shares Offered 15 %
    BLS E-Services Ltd QIB Shares Offered 75 %
    Implied Market cap ₹ 1,185 Cr – ₹ 1,226 Cr
    30th Jan to 1st Feb Basis of Allotment On or about February 2
    Tentative Listing Date On or about February 6

    About the Company


     Incorporated in April 2016, BLS-E Services Ltd is a subsidiary of a BLS International Services Ltd , which
    has a global presence and diversified range of services and is one of the biggest global players in visa
    application outsourcing
     Company 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
     Presently, Company’s merchants are organised in two categories i.e. BLS Touchpoints and BLS Stores .As
    on September 30, 2023, have 98,034 BLS Touchpoints, which includes 1,016 BLS Stores
     BLSe also acts as a Business Correspondents and provides various banking products and services on
    behalf of banks including opening savings, recurring deposit accounts, cash deposits, withdrawals,
    remittance, transfer, bill collection services, through its Subsidiaries, namely Zero Mass Private Limited
    (ZMPL) and Starfin

    Object of the Offer


     To achieve the benefits Strengthening technology infrastructure to develop new capabilities and
    consolidating existing platforms
     Funding initiatives for organic growth by setting up of 1,576 BLS Stores;
     Achieving inorganic growth through acquisitions; andGeneral Corporate Purposes

    Key Strengths Key Risks

     Asset light business model  60% of revenue derived from Single


     Multiple cross-selling and up-selling PSU Bank
    opportunities, network effect and wide  Contracts with respect to E-governance
    reach for customer acquisition projects are awarded to Corporate
     Business model with diverse sources of Promoter, BLS International
    revenue  A substantial portion of the revenue is
     Negligible customer acquisition and derived from BC business operated by
    retention costs our subsidiaries, ZMPL and Starfin for
     Strong Parent promoter banking partners

    Company Financials (₹ in crore)

    Source : RHP dated 23rd January 2024 ; SEBI website

    Ridhi Mehta – Research Analyst

    Disclaimer for Research offerings - https://rb.gy/fnj5de

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