BLS E-Services Limited

About BLS E-Services Limited  Incorporated in 2016, BLS E-Services Limited is a digital service provider in India. It provides services such as business correspondence, assisted e-services and e-governance services, including banking services on behalf of banks to people in urban, semi-urban, rural and remote areas. The company offers these services through merchants, organised under two categories: BLS touchpoints and BLS stores. All merchants registered with the company are treated as BLS touchpoints through which the company offers multiple services to consumers. Meanwhile, BLS stores offer its entire suite of services and selected e-commerce goods. As of 30 September 2023, it has 98,034 BLS Touchpoints including 1,016 BLS Stores.  The company generates revenue from monthly commissions, transaction-based commissions and registration fees. Besides this, the company has a history of acquiring complementary businesses and integrating them into its ecosystem. For example, it acquired businesses like Starfin in 2018, ZMPL in 2022, and BLS Kendras in 2022.Besides its core business, the company has expanded into e-commerce and insurance broking services in recent years, leveraging its merchants' large-scale presence, reach, and deep engagement.Between FY21 and FY23, it saw a CAGR rise of 55% in its revenue from operations and 86% in its profit. Moreover, e-retail is expected to grow at a CAGR of 22%-25% between FY23 and FY25, which could benefit the company.  And now, BLS E-Services Limited is coming out with its initial public offer (IPO). The entire IPO will be a fresh issue. The money raised through the fresh issue will be utilised to strengthen its technology infrastructure, fund initiatives for organic growth, achieve inorganic growth through acquisitions and for general corporate purposes. Its shares will be listed on the NSE and the BSE.  Here are key details about the BLS E-Services Limited IPO:     Company Name  BLS E-Services Limited   Company Type  Privatec    Company Established On  2016   BLS E-Services Limited IPO Opening Date  January 30, 2024    BLS E-Services Limited IPO Closing Date  February 1, 2024   BLS E-Services Limited IPO Allotment Status  February 2, 2024    Credit of Shares to the Demat Account  February 5, 2024   BLS E-Services Limited IPO Listing Date  February 6, 2024    BLS E-Services Limited IPO Face Value  ₹10 per share   BLS E-Services Limited IPO Lot Size  108 Shares    BLS E-Services Limited IPO Issue Size  ₹310.91 Cr   BLS E-Services Limited IPO to be Listed on  BSE, NSE    BLS E-Services Limited IPO Price band  ₹129 to ₹135 per share        Financial snapshot     Particulars  FY21  FY22  FY23  Q2FY24    Revenue  ₹ 64.4 crore  ₹ 96.6 crore  ₹ 243 crore  ₹ 156 crore    Net Profit/Loss  ₹ 3.14 crore  ₹ 5.37 crore  ₹ 20.3 crore  ₹ 14.6 crore              Here’s a quick look at BLS E-Services Limited IPO’s strengths, weakness, opportunities and risks (SWOT analysis)  Strengths and opportunities   Asset-light business model due to reliance on merchants aids in network expansion.  Enables social and financial inclusion of marginalised communities and citizens at the grass root level with the help of its BLS Sewa app, which provides edutech services, domestic money transfer, PAN card application, and multiple other services.  Multiple cross-selling and up-selling opportunities as it gets the benefit of G2C, B2B and B2C models within a single platform.  Diversified revenue sources with negligible customer acquisition and retention costs with a total revenue from operations of ₹243 crore in FY23.  Successful track record of acquisitions, with Zero Mass being the largest BC for one of the largest public sector banks with more than 12,784 active BCs (Business Correspondents) as of 30 September 2023.   Risks and threats   E-governance projects are awarded to its corporate promoter, BLS International Services Limited, not directly to the company.  The company has a limited operating history as it began operations in 2016.  Derives a substantial portion of its revenue from a single customer, a PSU bank, accounting for 59% of its revenue from operations in FY23.  Selected states like Punjab, Uttar Pradesh and West Bengal contribute significantly to the company's total revenue in FY23.  Some of its operations involve handling significant amounts of cash, making it susceptible to operational risks.  Subject to the risk of cybersecurity threat.            BLS E-Services Limited IPO details  |BLS E-Services Limited IPO date  According to the offer document filed by the company with the SEBI, the BLS E-Services IPO’s opening date – in other words, the BLS E-Services IPO launch date – will be 30th January 2024. The BLS E-Services IPO closing date is 1st February 2024. After this, investors will be updated about the allotment status on 2nd February 2024.  Investors, who have been allotted shares, can expect them to be credited to their demat account on 5th February 2024. The BLS E-Services IPO listing date is 6th February 2024. The listing date is the date on which the shares of a company get listed on the bourses – NSE and BSE.  |BLS E-Services Limited IPO Price Band  The entire IPO is a fresh issue. The BLS E-Services IPO price band has been set between ₹129 and ₹135 per share. Interested investors can choose a price within this band to apply for the IPO.  The BLS E-Services IPO listing price will be determined on 6th February 2024. The listing price is the price at which a company’s shares debut on the stock exchanges.  |BLS E-Services Limited IPO Lot size  The BLS E-Services IPO details have been declared. The BLS E-Services IPO lot size is set at 108 shares and an investor can apply for a minimum of 1 lot. Meanwhile, the BLS E-Services IPO issue size is approx ₹311 crore.           How to pre-apply for the BLS E-Services Limited IPO?  You can pre-apply for the BLS E-Services Limited IPO on Upstox. The pre-application for this IPO, which means pre-apply open date, usually begins a day before the IPO opens for subscription.  Follow these steps to pre-apply for the IPO:   Login to your Upstox account, using your six-digit PIN  After successfully logging in, click on ‘Discover’  On the Discover tab, you will find the ‘Invest in IPO’ section  Under the Invest in IPO section, look for the ‘BLS E-Services Limited IPO’ tab and click on it  Now fill in all the required information, like ‘bid price’ and ‘lot size’  Confirm and click on ‘Pre-Apply’  Accept the mandate on your UPI app            How to apply for the BLS E-Services Limited IPO?  If you are interested in this investment opportunity but unsure how to apply for the BLS E-Services Limited IPO, here we are listing out the steps for you.  When the public issue opens for subscription, one can follow this step-by-step guide on how to apply for the BLS E-Services Limited IPO on Upstox:   Login to your Upstox account, using your six-digit PIN  After successfully logging in, click on ‘Discover’  On the Discover tab, you will find the ‘Invest in IPO’ section  Under the Invest in IPO section, look for the ‘BLS E-Services Limited IPO’ tab and click on it  Now fill in all the required information, like ‘bid price’ and ‘lot size’  Confirm and click on ‘Apply’  Accept the mandate on your UPI app            How to check the BLS E-Services LimitedIPO allotment status?  When the allotment process is completed, you can check the status of your application on the Upstox app. Share allotment is generally done around five to six days after an IPO closes.  Here’s a step-by-step guide on how to check the BLS E-Services Limited IPO allotment status:   Login to your Upstox account, using your six-digit PIN  After successfully logging in, click on ‘Discover’  On the Discover page, you will find the ‘Invest in IPO’ section  Under the Invest in IPO section, you will find the ‘View all’ option  Once you click on ‘View all’, you will be directed to the ‘IPO’ tab  In the ‘IPO’ tab, click on ‘My applications’  In ‘My applications’, under the History section, your BLS E-Services Limited IPO allotment status will be mentioned    Check Allotment Status           Open a demat account with Upstox to apply for the BLS E-Services Limited IPO  To apply for the BLS E-Services Limited IPO, you need to mandatorily have a demat account. A demat account helps you hold the shares you buy in a dematerialised format. If you don’t have a demat account yet, you can open one with Upstox by visiting our website or by downloading the app.  Here is a step-by-step guide on how to open a demat account with Upstox:   Click here to visit the demat account opening page on the Upstox website.  Enter your phone number and other essential details to begin opening a demat account.  Upload the scanned copies of your PAN, Aadhaar card, a cancelled cheque, and your bank statement as needed.  Complete the e-verification using the OTP sent to your registered mobile number.   This is all it takes to open a demat account with Upstox. Easy and quick, right?   Open Demat Account           Upstox – trading app to apply for the BLS E-Services Limited IPO  Applying for IPOs with Upstox is extremely easy. The user-friendly interface and top-notch security make Upstox one of the leading trading apps in India.  You can apply for the BLS E-Services Limited IPO on Upstox, provided you have a demat account. As mentioned in the previous section, you can simply follow the steps to open a demat account with Upstox. The biggest advantage is that when you apply for an IPO using your Upstox account, the brokerage charges are zero.  In fact, courtesy of its robust features and minimal charges, Upstox is among the most preferred trading apps. Lakhs of Indians trust Upstox as it is a reliable trading platform that makes IPO applications easy.