BLS E Services IPO Details | GMP, Date, Price, Review

BLS E Services IPO

Table of Contents

BLS E Services IPO Details ( BLS E Services Limited IPO Review )

(30 Jan 2024 – 1 Feb 2024)

Founded in April 2016, BLS-E Services Limited is a digital service provider offering essential services to major banks in India, as well as Assisted E-Services and E-Governance Services at the grassroots level.

The company’s services fall into three main categories: Business Correspondents Services, Assisted E-Services, and E-Governance Services.

As a subsidiary of BLS International Services Limited, the company plays a crucial role by providing visa, passport, consular, and other citizen services to governments across Asia, Africa, Europe, South America, North America, and the Middle East through its tech-enabled platform. It stands out as the only listed company in India engaged in this domain.

As of March 31, 2023, the merchant network has expanded to 92,427, aiming to reach and assist underserved populations in remote areas.

The revenue from operations in Fiscal years 2021, 2022, and 2023 amounted to ₹6,448.72 lakhs, ₹9,669.82 lakhs, and ₹24,306.07 lakhs, respectively.

As of June 30, 2023, the company boasts a total of 3,071 employees, including 2,413 contract employees.

BLS E Services Limited IPO Competitive Strength

  • 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 our acquisitions
  • Experienced senior management, skilled employees and strong parentage of our Promoters, Diwakar Aggarwal and Shikhar Aggarwal and Corporate Promoter “BLS International Services Limited”

BLS E Services IPO Financials Performance ( Results )

BLS E Services Limited Financial Information (Restated Consolidated)

All Amount in ₹ Crores

Period EndedTotal AssetsTotal RevenuePATNet WorthBorrowing

Objective of BLS E Services IPO Issue

  • Strengthening the technology infrastructure to develop new capabilities and consolidating the existing platforms;
  • Funding initiatives for organic growth by setting up of BLS Stores;
  • Achieving inorganic growth through acquisitions; and
  • General Corporate Purposes

BLS E Services IPO Basic Details

IPO DateJan 30, 2024 to Feb 1, 2024
Listing DateTuesday, February 6, 2024
Face Value₹10 per share
Price₹129 to ₹135 per share
Lot Size108 Shares
Issue Size23,030,000 shares of ₹10
(aggregating up to ₹310.91 Cr)
Fresh Issue23,030,000 shares of ₹10
(aggregating up to ₹310.91 Cr)
Issue TypeBook Built Issue IPO
Listing AtNSE, BSE
Share holding pre issue66,726,485
Share holding post issue89,756,485
Company PromotersBLS International Services Limited

BLS E Services IPO Reservation

Anchor Investor Shares Offered40.50% of the Net Issue
QIB Shares Offered27.00% of the Net Issue
NII (HNI) Shares Offered13.50% of the Net Issue
Retail Shares Offered9.00% of the Net Issue
Other Shares Offered10.00% of the Net Issue
Total Shares Offered100.00% of the Net Issue

BLS IPO Timetable

BLS IPO will open on January 30, 2024 and close on February 1, 2024. You can join BLS IPO at 10.00 A.M. to 5.00 p.m. Upto which mandate can be applied.

Opening Date29 January 2024 (Monday)
Closing Date1 February 2024 (Thursday)
Basis of Allotment2 February 2024 (Friday)
Initiation of Refunds5 February 2024 (Monday)
Credit of Shares to Demat5 February 2024 (Monday)
Listing Date6 February 2024 (Tuesday)
Deadline for UPI mandate confirmation5 PM on 1 February 2024

BLS E Services IPO Lot Size

For retail investors in BLS E Services IPO, 108 shares will come in 1 lot or the minimum investment will be ₹14,580. Retail-individual investors can apply for up to 13 lots or the maximum investment will be ₹189,540.

Retail (Min)1108₹14,580
Retail (Max)131,404₹189,540
S-HNI (Min)141,512₹204,120
S-HNI (Max)687,344₹991,440
B-HNI (Min)697,452₹1,006,020

BLS E Services IPO Promoter Holding

The company’s promoters include BLS International Services Limited.

Pre Issue Share Holding93.80%
Post Issue Share Holding68.90%

BLS E Services Ltd IPO Key Performance Indicator ( Valuation )

In the table given below, all the figures have been told according to the latest financial year.

Market Cap (₹ Cr.)1226.56
Earning Per Share (EPS)₹2.24 per Equity Share
Net Asset Value (NAV)₹18.76 per Equity Share
P/E Ratio (P/E) (x)44.31
Post P/E Ratio (P/E) (x)60.33
Return on Net Worth (RoNW) (%)16.46
Return on equity (ROE) (%)33.33
Return on Capital Employed (ROCE) (%)30.62
Debt/Equity Ratio0.05
Price/Book Value Ratio7.20

BLS E Services Ltd Peer Comparison

Company NameConsolidated/
BLS E Services
Peer Group

BLS E Services IPO GMP Live Update, Kostak Rate day by day

DateGMPKostakSubject to
1 February 2024₹159
31 January 2024₹159
30 January 2024₹159

BLS E Services IPO Detail Video:


BLS E Services IPO Subscription Status (Bidding Detail)

The BLS E Services IPO on February 1, 2024 at 7:30:00 PM was subscribed 162.38 times, with the retail category being subscribed 236.53 times, the NII (Non-Institutional Investor) category being subscribed 300.05 times, QIB (Qualified-Institutional Buyers) category being subscribed 123.30 times and the Other category being subscribed 15.30 times.


BLS E Services IPO Prospectus

BLS E Services IPO DRHPDownload
BLS E Services IPO RHPDownload
BLS E Services IPO Anchor Investors Details PDFDownload

BLS E Services IPO Rating

Our Rating3.5/5.0

BLS E Services Company Contact Information

BLS E Services Limited

BLS E Services Limited

Corporate Identity Number: U74999DL2016PLC298207
Registered Office: G-4B-1, Extension, Mohan Co-operative Indl. Estate Mathura Road, South Delhi, New Delhi – 110044, India;
Corporate Office: Plot no. 865, Udyog Vihar Phase V, Gurugram, Haryana – 122016, India;
Contact Person: Sanjay Kumar Rawat, Company Secretary and Compliance Officer;
Telephone: +91-11-45795002
Our Promoters: Bls International Services Limited, Diwakar Aggarwal and Shikhar Aggarwal

BLS E Services IPO Registrar

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
Investor grievance email:
Contact Person: M. Murali Krishna
SEBI Registration No: INR000000221

BLS E Services IPO Lead Manager

Unistone Capital Private Limited

Address: 305, A Wing, Dynasty Business Park, Andheri Kurla Road, Andheri East, Mumbai- 400059
Maharashtra, India
Telephone: + 91 9820057533
Investor grievance email:
Contact Person: Brijesh Parekh
SEBI Registration No: INM000012449

BLS E Services IPO FAQs

What is the lot size of BLS E Services IPO?

The total size of BLS E Services IPO is ₹310.91 crores and this is a complete fresh Issue.

When will BLS E Services IPO start?

BLS E Services IPO will open from 30 January 2024 and IPO will close on 1 February 2024.

What is the open date of BLS E Services IPO?

BLS E Services IPO will open date from 30 January 2024.

What is the last date ( close date ) of BLS E Services IPO?

BLS E Services IPO will close from 1 February 2024.

What is the price band of BLS E Services IPO?

BLS E Services IPO price band is ₹129 to ₹135. ( Upper Price Band: ₹135, Lower Price Band: ₹129 )

What is the minimum amount required to apply for BLS E Services IPO?

The minimum investment for retailers to apply for BLS E Services IPO is ₹14,580 and the maximum investment is ₹189,540.

What is going on gray market premium of BLS E Services IPO?

View gray market premium of BLS E Services IPO by Clicking Here

How much is the GMP of BLS E Services IPO?

Watch BLS E Services IPO GMP Today: Click Here

What is the allotment date of BLS E Services IPO?

The allotment date of BLS E Services IPO is 2 February 2024.

How to check allotment status in BLS E Services IPO?

To check the allotment status of BLS E Services IPO, first of all go to the registrar website by clicking here, select your bad BLS E Services IPO name or enter your bad application number, PAN number or client ID and click on submit. ( Video Link )

What is the listing date of BLS E Services IPO?

The listing date of BLS E Services IPO is 6 February 2024.

How much will be the listing gain in BLS E Services IPO?

View listing gain of BLS E Services  IPO by Clicking Here

How much time BLS E Services IPO is subscribed?

Total 162.38 times subscribed in BLS E Services IPO out of which 236.53 times subscription was done in retail quota, 300.05 times subscription in NII quota and 123.30 times subscription in QIB quota.

How to apply for BLS E Services IPO from Upstox?

Click Here to see how to apply for BLS E Services IPO from Upstox. (step by step)

How to apply for BLS E Services PO from Zerodha?

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How to apply for BLS E Services IPO from Angle One?

Click Here to see how to apply for BLS E Services IPO from Angle One. (step by step)

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