About the Company:
BLS E-Services Ltd is a technology enabled digital service provider, providing Business Correspondents services to major banks in India, Assisted E-services and (E-Governance Services at grass root levels in India.
Company provides access points for delivery of essential public utility services, social welfare schemes, healthcare, financial, educational, agricultural and banking services for governments (G2C) and businesses (B2B) alike in addition to a host of B2C services to citizens in urban, semi-urban, rural and remote areas.
Company’s merchants act as interface with the consumers and play a critical role in delivery of goods and services on the ground.
Presently, company’s merchants are organised in two categories i.e. BLS Touchpoints and BLS Stores.
All merchants registered with th company are treated as BLS Touchpoints and they have access to offer multiple services being extended by the company.
BLS Stores are BLS branded stores which offer the entire suite of offerings to the consumers including availability of select goods on a sample basis supplied by e-commerce players which can be ordered and procured by the consumers after having a touch and feel experience of such goods.
As on September 30, 2023, company had 98,034 BLS Touchpoints, which includes 1,016 BLS Stores.
Company’s primary business segments:
- Business Correspondents Services.
- Assisted E-services.
- E-Governance Services.
Revenue Generated from various Business segments:
Management Team:
- Mr. Diwakar Aggarwal (Designation: Non-Executive Director)
- Mr. Shikhar Aggarwal (Designation: Chairman and Non- Executive Director)
Company’s Key Financial parameters: (in Lakhs)
Objectives of the Issue:
Fresh Issue: (Rs.310.90 cr)
- Strengthening our technology infrastructure to develop new capabilities and consolidating our existing platforms.
- Funding initiatives for organic growth by setting up of BLS Stores.
- Achieving inorganic growth through acquisitions.
- General Corporate Purposes.
Fund Utilisation:
| Particulars | Amount (Rs. in Crores) |
|---|---|
| Strengthening our technology infrastructure to develop new capabilities and consolidating our existing platforms |
97.58 |
| Funding initiatives for organic growth by setting up of BLS Stores | 74.78 |
| Achieving inorganic growth through acquisitions | 28.71 |
Financials of the Company:
| (in Crores) | FY 21 | FY 22 | FY 23 | Upto 30th Sept 23 |
|---|---|---|---|---|
| Revenue | 65.23 | 98.39 | 246.29 | 158.08 |
| Net Profit | 3.14 | 5.37 | 20.33 | 14.68 |
Valuation of Peer Group Companies:
| Company Name | Face Value | EPS | PE Ratio | RoNW | NAV |
|---|---|---|---|---|---|
| BLS E-Services Ltd | 10 | 3.02 | 44.70 | 16.46% | 18.76 |
| EMudhra Ltd | 5 | 8.01 | 56.27 | 15.75% | 53.02 |
IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | 30th January 2024 |
| Issue Closes on | 1st February 2024 |
| Issue Price | Rs.129 – 135 |
| Face Value | Rs.10 |
| Retail Category Allocation | 35% |
| Minimum Lot | 108 Shares |
| Minimum Investment | Rs. 14,580 |
| Issue Constitutes | 25.34% |
| Issue Size | Rs.310.90 cr ($ 37 million) |
| Market Cap | Rs. 1226 cr ($ 147 million ) |
| Listing at | NSE & BSE |
| Equity Shares Offered (Fresh) | 2,30,30,000 |
| Equity Shares Prior to the Issue | 6,78,26,485 |
| Equity Shares after the Issue | 9,08,56,485 |
Also Read : List of Upcoming IPO’s in India.
Important Dates:
| Finalization of Basis of Allotment | on or Before 5th February 2024 |
| Initiation of Refunds | on or Before 5th February 2024 |
| Credit of Equity Shares: | on or Before 5th February 2024 |
| Listing Date: | on or Before 6th February 2024 |
IPO Valuation Parameters:
| Earnings Per Share (EPS) | Price To Earnings ratio (PE) | Return on Net Worth (RoNW) | Net Asset Value (NAV) |
|---|---|---|---|
| 3.02 | 44.70 | 16.46% | 18.76 |
| Company Contact Info: |
|---|
| BLS E-Services Ltd G-4B-1, Extension, Mohan Co-operative Indl. Estate Mathura Road, South Delhi, New Delhi –110044, India. Telephone: +91-11-45795002 Email: cs@blseservices.com Website: www.blseservices.com |
| Registrar to the Issue: |
|---|
| KFin Technologies Limited Address: Selenium, Tower B, Plot No. 31- 32, Gachibowli, Financial District, Nanakramguda, Serilingampally, Hyderabad-500 032, Telangana, India Telephone: + 91 40 6716 2222 Email: blseservices.ipo@kfintech.com Website: www.kfintech.com |
