- 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 was incorporated in April 2016 and is a subsidiary of BLS International Services Limited, which holds 93.80% stake in the company.
- The IPO is a book-built issue of 23,030,000 equity shares of a face value of ₹10 aggregating up to ₹310.91 Crores. The issue is entirely fresh, and no offer for sale is involved.
- The IPO price band is set at ₹129 to ₹135 per share. The minimum order quantity is 108 Shares. The IPO opens on January 30, 2024, and closes on February 1, 2024. The allotment is expected to be finalized on February 2, 2024, and the listing date is tentatively fixed as February 6, 2024.
- The IPO is reserved as follows: not less than 75% of the net issue for QIBs, not more than 10% for retail investors, and not more than 15% for non-institutional investors.
- The company intends to use the net proceeds from the IPO for the following purposes: to meet the working capital requirements, to fund the capital expenditure, and for general corporate purposes.
- The company reported a revenue of ₹149.64 crores and a profit after tax of ₹18.86 crores for the financial year ended March 31, 2023. The company has a total debt of ₹28.77 crores as of September 30, 2023.
- The company claims to have a strong presence in 18 states and 2 union territories in India, serving over 40 million customers annually. The company also has a diversified portfolio of services, including Aadhaar enrolment, PAN card services, passport services, banking services, bill payment services, and e-governance services.
- The company faces competition from other players in the digital service industry, such as Vakrangee Limited, Alankit Limited, and CSC e-Governance Services India Limited.
- The company’s strengths include its experienced management team, strategic partnership with BLS International Services Limited, scalable business model, and robust technology platform.
